BEST PRACTICES FOR COUNTERING TRADE-BASED MONEY LAUNDERING

In May 2018, the Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership in Singapore published a comprehensive guide intended to provide practical guidance to implement the standards stipulated in guidance on Trade Finance and Correspondent Banking published in October 2015 and the Wolfsberg Guidelines (for banks), and which outlines the leading practices noted in the market around the identification of Trade Based Money Laundering.

https://abs.org.sg/docs/library/best-practices-for-countering-trade-based-money-laundering.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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