Sophisticated modern tools such as blockchain and artificial intelligence offer opportunities to see and analyse information and root out illicit trade according to a US senator who for years has been calling for more action to curb trade-based money laundering (TBML).

US senator Bill Cassidy, a Republican who sits on the US Senate Finance Committee, has been calling for tougher action on illicit trade for several years and sees TBML as one of the main methods by which drug traffickers, criminal organisations and terrorist financiers use legitimate trades to disguise illegally obtained proceeds (Trade Based Financial Crime 23 March 2018, 23 July 2018, 13 November 2019 and 3 January 2020).

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