Anti-money laundering/ Trade-based money laundering is destined to grow

They say that when one door closes another will open. Unfortunately, that appears to hold true for criminal money launderers.

Banks and international enforcement authorities have gotten very good at spotting “traditional” money laundering techniques, those that generally utilize banks and financial institutions to move money around. Large amounts of cash entering the financial institution raise eyebrows almost immediately and those placing it into circulation had better be ready for scrutiny.

But criminals are smart. As traditional money laundering methods prove increasingly difficult to sustain they are getting creative. Unfortunately for those in the business community, they have discovered a new method of obfuscating sources of money: international trade. Trade-Based Money Laundering (TBML) is a new problem that is rapidly growing.

Trade-Based Money Laundering: What You Don’t Know Can Hurt You