Trade-based money laundering: with special focus on trade finance instruments

Ramandeep Chhina

Research output: Contribution to conferencePaper

Abstract

Trade-Based Money Laundering (TBML) represents an important channel of criminal activity. Given the high growth of international trade in recent years and lack of specific international standards to combat money laundering in this sector, TBML has become increasingly attractive to criminals. The paper gives a brief overview of major typologies used by criminals to launder money via international trade, with special focus on the vulnerability of international trade finance instruments to money laundering. It analyses case studies from different countries and attempts to list some red flags which may be considered by relevant financial institutions and law enforcement agencies to detect and combat money laundering through international trading system. The paper also critically examines the current international framework and the role and effectiveness of financial institutions in preventing TBML, and argues that it has become highly imperative for the international community now to take effective action to target TBML.
Original languageEnglish
Publication statusPublished - Nov 2013
Event7th International Law and Trade Conference - Bangkok, Thailand
Duration: 11 Nov 201315 Nov 2013

Conference

Conference7th International Law and Trade Conference
Abbreviated titleILTC 2013
CountryThailand
CityBangkok
Period11/11/1315/11/13

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    Chhina, R. (2013). Trade-based money laundering: with special focus on trade finance instruments. Paper presented at 7th International Law and Trade Conference, Bangkok, Thailand.