Sanctioned Russian individuals are using a range of methods, including trade-based money laundering (TBML), to evade sanctions imposed on them following Russia’s invasion of Ukraine according to financial intelligence sources consulted by the UK’s Joint Money Laundering Intelligence Taskforce (JMLIT).

Other methods include using family members and associates to access, transfer or sell frozen assets via non-Russian enablers according to the JMLIT’s Red Alert Financial Sanctions Evasion Typologies: Russian Elites and Enablers which catalogues and describes common techniques suspected of being used by sanctioned Russian elites and their enablers to evade sanctions.

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!