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Joint EG-FATF Trade-Based Money Laundering Risk Indicators

Joint FATF-Egmont
Image Credit: egmontgroup.org

The Financial Action Task Force, in collaboration with Egmont Group has published a list of Trade-Based Money Laundering (TBML) risk indicators. The purpose of the report is to enable individuals in public and private sectors overcome the challenges inherent in identifying trade-based money laundering.

Some of the risk indicators suggestive of criminals laundering money through trade as highlighted by the report include: weak ACT/AML compliance, obvious lack of business activities, complex or illogical corporate structure, and lack of an online presence.

See here to read the full report.