Trade-based money laundering (TBML) is commonly used by migrant smugglers to disguise their criminal proceeds according to a new report published by the Financial Action Task Force (FATF).

The proceeds generated by migrant smuggling are estimated to exceed US$10 billion per year according to Money Laundering and Terrorist Financing Risks Arising from Migrant Smuggling, which analyses the money laundering and terrorist financing risks associated with migrant smuggling.

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