The Georgian authorities are being urged to strengthen measures to better understand the risks of trade-based money laundering (TBML), including its use in the financing of terrorism in a new report published by the Council of Europe’s anti-money laundering body.

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) says that while Georgia is increasingly recognising money laundering and terrorism financing risks, it needs to strengthen the practical application of its anti-money laundering and counter financing of terrorism (AML/CFT) measures.

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