TBML and IWT amongst four money laundering typologies drawing more attention
An analysis by consultants at Forensic Risk Alliance (FRA) of anti-money laundering (AML) trends and challenges has identified trade-based money laundering (TBML) and the illegal wildlife trade (IWT) as two of the four money laundering typologies that have recently received more attention from regulators and…
Second major waste and recycled metal trade fraud of 2021 revealed
Italian police have broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China according to the Reuters news agency. The report follows news that in 15 people…
Council of Europe warns Georgia of TBML and trade-based terrorism financing risks
The Georgian authorities are being urged to strengthen measures to better understand the risks of trade-based money laundering (TBML), including its use in the financing of terrorism in a new report published by the Council of Europe’s anti-money laundering body. The Committee of Experts on…
EU-Africa efforts to curb IFFs may be set back by coronavirus impacts
Europe and Africa must address the issue of illicit financial flows (IFFs) and prioritise the delivery of greater domestic resource mobilisation so that public resources can be invested in public services according to the directors of the European Think Tanks Group (ETTG). They also say…
Governments failing to curb kleptocrats using Europe’s financial system says ECFR
Kleptocrats regularly exploit Europe’s financial system according to a policy brief published by the European Council on Foreign Relations (ECFR). Over recent years, the brief says dozens of money laundering schemes linked to corrupt, abusive regimes have come to light across the continent, revealing limits…
