Trade-based money laundering (TBML) isdefinedby the Financial Action Task Force (FATF) as "the process of disguising the proceeds of crime and moving value through the use of trade transactions in an attempt to legitimise their illicit origins". It is a complex operation that can be carried ...
Anti-money laundering is the process of financial institutions and other business entities using in-house (sometimes assisted by external parties – more on this to come) methods to address the risks posed by Trade-Based Money Laundering. Anti-money laundering explained What is AML? Anti-money la...
money launderingsex trafficking victimsThe lack of data on the economic value-added of sex trafficking is largely explained by the fact that trafficking for sexual exploitation is usually part of the non-observed economy. In fact, the very notion of economic "value-added" may seem inappropriate ...
9) Money laundering and conflict gold: banks face tough questions over Dubai trade In this long read, GTR revealed that the UAE is facing growing international pressure over its attitude towards illicit financial activity, with details emerging of the trade-based money laundering risks in Dubai’s...
"Rigorous standards for investor protection, anti money laundering, combating the financing of terrorism, compliance and cross border deal flow tracing," will be developed, it said. In September, the UAE Securities and Commodities Authority and the Dubai World Trade Centre Authority (DWTCA...
Parliamentary committees agree position on AML package.On Tuesday (28 March), the economy committee and the civil liberties, justice and home affairs committee of the EU Parliament agreed on their common position for the anti-money laundering package. The package consists of the 6th anti-money lau...
(involving international development), the Conflict, Stability, and Security Fund programs, and the Sanctions and Anti-Money Laundering Bill, as the governance of these cross-departmental initiatives lay outside the scope of the analysis. We also excluded the ITC’s work with three other Commons ...
“pre-sale information, bidding processes, professional standards of agents, anti-money laundering regulations and occupier services”; and (6) Sustainability covering “green building regulations, energy benchmarking, energy efficiency standards, carbon reporting, green leases, financial performance of ...
Based on the liberalization and facilitation of trade and investment, capital projects will be launched in stages to promote free and convenient capital flow of Hainan FTP and overseas in an orderly manner. 人员进出自由便利方面,我们针对高端产业人才,实行更加开放的人才和停居留政策,目的是打造人才聚集...
For example, its common knowledge that large amounts of personal FX funds nowadays is traceable to money laundering and trafficking in illicit drugs. How can the authorities correctly track and account for such funds? Mostly, such funds are traded in autonomous FX market (I have in this ...