Bangladesh steps up efforts to counter trade-based laundering
The governor of Bangladesh’s central bank has said that he is working closely with counterparts and has introduced a specialist unit to detect trade-based money laundering. Bangladesh recently announced a new strategy for anti-money laundering (AML) and combating financing of terrorism (CFT) for 2015-2017(AML Newsflow,…
Hong Kong Monetary Agency targets trade based money laundering
The Hong Kong Monetary Agency (HKMA) says it has identified trade finance as the main focus for its anti-money laundering (AML) and countering financing of terrorism (CFT) efforts in 2015. The territory’s financial sector watchdog has also warned that it is intent on a crackdown…
Trade-based money laundering growth in Chicago
Trade-based money laundering is on the increase within the illicit drugs trade, the special agent in charge of the US’ Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) unit in Chicago, Gary Hartwig, has warned. The warning followed news that thirty-one people in Chicago…
Reserve Bank of New Zealand warns against de-risking
New Zealand’s banks have been warned not to adopt sweeping ‘de-risking’ strategies by refusing to do business with international money transfer service providers. The warning came in a stern statement from the Reserve Bank of New Zealand (RBNZ), which is clearly very concerned about the…
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Trade Based Financial Crime
Trade Based Financial Crime
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