A lack of foreign currency and tough banking requirements may have caused Egyptian manufacturers to engage in trade-based money laundering (TBML), smuggling and illegal trade activity to stay afloat, manufacturers and analysts have reportedly told Middle East Eye.

While its analysis focuses solely on Egypt, many other economies across the world are facing foreign shortages, raising the question of how far tough economic conditions have precipitated an increase in TBML and other illegal trading activities.

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!