Europol report focuses on TBML and examines contexts of financial and economic crime
A comprehensive report published by Europol describes how trade-based money laundering (TBML) is used alongside other money laundering typologies by professional money launderers that have established a parallel underground financial system to process transactions and payments away from surveillance mechanisms governing the legal financial system….
Counterfeiters moving online and turning to complex TBML schemes to launder proceeds says Europol
The online and offline distribution of fake and substandard goods now relies heavily on the digital domain and criminals trafficking counterfeit food and drink are setting up complex trade-based money laundering (TBML) schemes according to Europol. The EU law enforcement agency’s Intellectual property crime threat assessment…
Adulterated saffron TBML scheme unearthed in Spain
Spanish authorities have unearthed a suspected trade-based money laundering (TBML) operation in which a criminal network adulterated highly priced saffron to launder millions of euros. The network falsified documents to pass off the saffron they sold as a high-grade version of the spice whereas in…
Scale and scope of IFFs increasing due to coronavirus
The scale and scope of illicit financial flows (IFFs) could be increasing as authorities are distracted and overwhelmed by the coronavirus pandemic and its impacts according to Global Financial Integrity (GFI). The Washington-based think tank that focuses on IFFs says concerns are especially acute in…
