Trade-based money laundering (TBML) is one of the primary channels used to move the proceeds of fraud perpetrated in the Caribbean, according to a new report by Global Financial Integrity (GFI), the Washington based non-profit focused on illicit financial flows.

Financial fraud has a widespread footprint across the region, involving hundreds of millions if not billions of dollars in illicit proceeds each year, according to the report, Financial Fraud in the Caribbean.

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