UK’S SEARCH FOR TRADE WITH DEVELOPING COUNTRIES RAISES TBML ALARM

On 28 July, Global Trade review reported that the UK’s courtship of trade with developing countries after Brexit risks exacerbating the country’s exposure to trade-based money laundering (TBML), according to new research.  It is said that a pilot study published in the Journal of Money Laundering Control concludes that accelerated trade with less developed countries is likely to increase the UK’s exposure to TBML and that regulators and law enforcement are ill-equipped to investigate it and “underestimate” money laundering vulnerabilities of trading with high-risk jurisdictions after Brexit.

https://www.gtreview.com/news/europe/uks-search-for-trade-with-developing-countries-raises-tbml-alarm/

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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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