Trade Based Money Laundering (TBML) – An Obscure Channel of Financial Scams
Trading has emerged as a critical source of financing terrorist activities and money laundering. Recently, approximately 150,418 cases of money laundering were reported through malicious trading practices in Italy.
Trade-based money laundering (TBML) entails the process of disguising the origin of illicit funds through trading operations. Imposters use trading channels to launder illegal proceeds from one place to another. TBML is often conducted through the misclassification of goods in order to undermine custom duties. The ultimate aim of this money laundering tactic is to introduce illegal funds into legitimate financial systems.
This comprehensive guide provides a detailed analysis of how illicit funds exploit an economy’s financial system through trade-based money laundering (T...