Dutch criminals are using agricultural commodities such as potatoes and onions as well as motor vehicle exports to Africa in increasingly sophisticated trade based money laundering (TBML) schemes according to the CEO of the Netherlands’ Fiscale Inlichtingen en OpsporingsDienst (Fiscal Information and Investigation Service – FIOD), Bert Langerak.

FIOD is also concluding an apparently successful public-private partnership (PPP) programme with banks that specifically focuses on TBML and has made significant changes to its working practices to curb it.

You need to be logged in to view this article.

If you are an existing subscriber please enter your credentials to log in.

To become a member of The Association of Trade Finance Compliance Professionals (ATFCP) click here!