TRADE-BASED MONEY LAUNDERING TO RISE AS IRAN SEEKS TO EVADE NEW USA SANCTIONS
February 1st, 2019
TRADE-based money laundering (TBML) continues to be a complex typology that is tough for law enforcement to detect and ML regulators to control.
The risk is that with Iran being subject to new USA sanctions, the use of TBML is going to grow in the short term, warn experts.
In the Middle East, a compliance officer at a major Lebanese bank with a regional presence, who requested anonymity as he is not allowed to talk to the press. “We are being advised to pay attention to Iranian sanctions evasion techniques.” This warning has been underlined by US financial ...
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