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    Illicit cryptocurrency transaction activity reaches all-time high in value, all-time low in share of all cryptocurrency activity

    by admin January 21, 2022

    Cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving US$14 billion over the course of the year, up from US$7.8 billion in 2020 according to blockchain analysis firm Chainalysis. Evidence suggests that cryptocurrencies have been and will be used in trade-based…

    news, Trade Based Financial crimes News

    Virtual currencies increasingly feeding TBML operations says DEA

    by Mark Ford March 8, 2021

    Drug traffickers and money launderers are increasingly incorporating virtual currency into trade-based money laundering (TBML) activity as the use of these currencies becomes more widely adopted according to the US Drug Enforcement Administration (DEA). The administration’s recently published National Drug Threat Assessment 2020 says reporting…

    Trade Based Financial crimes News

    US investigators ditch inquiry into Kaloti’s gold trade money laundering

    by Mark Ford November 11, 2020

    Investigators in the US have ditched their pursuit of money laundering charges against one of the world’s largest gold traders and refiners, Kaloti Jewellery Group. Earlier this year a British High Court found that one of the world’s ‘Big 4’ accounting firms and Kaloti’s accountants,…

    Trade Based Financial crimes News

    Inland Revenue Service division awarded for cracking complex US-Mexico TBML conspiracy

    by Mark Ford July 10, 2020

    The US treasury’s Financial Crimes Enforcement Network (FinCEN) has awarded the Internal Revenue Service-Criminal Investigation Division (IRS-CID)for its investigation into a transnational money laundering organisation operating in the US and Mexico through a complex trade-based money laundering (TBML) scheme. The division was one of seven…

    Trade Based Financial crimes News

    Cryptocurrencies and stronger links with Asia creating new TBML opportunities

    by Mark Ford January 4, 2019

    A US congressional hearing into Mexican drug cartels and border security held in December focused on how the cartels and transnational criminal organisations (TCOs) are making increasing use of cryptocurrency channels to conduct their money laundering operations. Links with Asia are also strengthening, creating scenarios in…

    news, Trade Based Financial crimes News

    Latin American gangs turn to China to organise trade-based financial crime

    by Mark Ford December 14, 2018

    Latin American criminal gangs are increasingly looking to transnational criminal organisations in China to launder money according to an associate professor of Economics at the State University of New York. Sara Hsu, who is specialist in the Chinese financial system, says that trade-based financial crime…

    news, Trade Based Financial crimes News

    US resumes investigations into Hezbollah’s TBML operations

    by Mark Ford January 24, 2018

    Washington appears to have re-engaged with its investigations into trade-based financial crimes allegedly perpetrated by Hezbollah, which the US authorities describe as a terrorist group, by appointing a new team to pursue the probe. This follows disclosures made by a former senior official at the…

    Trade Based Financial crimes News

    US report highlights challenges of TBML schemes

    by Mark Ford November 3, 2017

    A new report from the US Drug Enforcement Administration (DEA) has highlighted that trade-based money laundering (TBML) schemes are a persistent challenge for authorities seeking to curb or close down transnational criminal organisations involved in the illegal drugs trade. The 2017 National Drug Threat Assessment…

    news, Trade Based Financial crimes News

    US to open China office to counter TBML associated with drugs trade

    by Mark Ford January 9, 2017

    The US Drug Enforcement Administration (DEA) is planning to open a new office in southern China amidst growing concerns over the country’s role in the global drug trade. Of specific concern is the utilisation of trade-based money laundering (TBML) schemes to legitimise the drug profits…

    Trade Based Financial crimes News

    Trade-based money laundering employed by Hezbollah

    by Mark Ford February 24, 2016

    The US Drug Enforcement Administration (DEA) says it has uncovered a complex money laundering network operated by Hezbollah that employs, amongst many other systems, trade-based money laundering (TBML). The DEA has said it has engaged in “significant enforcement activity including arrests” with the operations of…

    Trade Based Financial crimes News
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    Zimbabwe’s gold mafia allegedly exposed by Al Jazeera, Transparency International calls for action against those implicated
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    US treasury secretary announces international commitment to enhance beneficial ownership transparency
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    FinCEN publishes first guidance on beneficial ownership reporting requirements for businesses
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    Trade Based Financial Crime


    Trade Based Financial Crime

    This online training course provides you with the technical knowledge required to succeed within the trade finance compliance landscape.

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    Latest Articles

    • Zimbabwe’s gold mafia allegedly exposed by Al Jazeera, Transparency International calls for action against those implicated
    • US treasury secretary announces international commitment to enhance beneficial ownership transparency
    • FinCEN publishes first guidance on beneficial ownership reporting requirements for businesses
    • UBS, Credit Suisse and US bankers under scrutiny for possible breaches of Russian sanctions
    • ABA calls on FinCEN to make changes to proposed beneficial ownership rule

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    Certificate in Trade Finance Compliance (CTFC) CTFC is the new industry certification designed to tackle trade finance based crimes across the globe.

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