FinCEN issues first ever penalty for failing to comply with GTO order
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has for the first time ever fined a business in the Los Angeles Fashion District for failing to comply with a geographic targeting order (GTO). A&S World Trading, operating under the name Fine Fragrance (A&S), has…
Coronavirus disrupting TBML flows from US drug sales
Some analysts have suggested that chaos in the illegal narcotics trade’s supply chains and financing operations due to coronavirus pandemic impacts may push drug barons towards trade-based money laundering (TBML) operations (Trade-based Financial Crime, 24 April 2020). But data recently released suggests that the proceeds…
