Korea’s Shinhan Bank launches S-TBML to enhance international trade finance competitiveness

South Korea’s Shinhan Bank has introduced a big data-powered anti-money laundering (AML) system in its efforts to detect suspicious trade transactions and become more competitive in the international trade finance market. Shinhan-Trade Based Money Laundering (S-TBML) uses artificial intelligence (AI), optical character recognition (OCR) and…

Canada’s AML regulator issues special bulletin on Russia-linked money laundering related to sanctions evasion

Canada’s anti-money laundering and counter financing of terrorism (AML/CFT) regulator and financial intelligence unit has published a Special Bulletin on Russia-linked money laundering related to sanctions evasion. Ottowa has imposed a significant number of new sanctions on Russia in response to its invasion of Ukraine….

Trade a key channel for transferring millions of illegally obtained euros through Bosnia and Herzegovina, Montenegro and Serbia

Trade is one of the three mechanisms or ‘channels’ – alongside cash movement and the financial system – identified for transferring millions of illegally obtained euros generated from corruption, tax evasion and organised crime through Bosnia and Herzegovina, Montenegro and Serbia every year according to…