Financial institutions’ exposure to TBML growing sharply says LexisNexis financial crime compliance study

Exposure to trade-based money laundering (TBML) schemes has grown sharply according to financial institutions surveyed in LexisNexis Risk Solutions’ True Cost of Financial Crime Compliance Study, 2023. The study examines how financial institutions navigate the expenses and challenges tied to evolving financial crime compliance requirements.

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….