This is the procedure whereby corporate identities and sources of funds are masked by criminal organisations to legitimise earnings. It is the responsibility of banks to be able to monitor, flag and handle rule changes, and the obvious signs of risks to tackle this.
Key learning objectives:
Define Trade-Based Money Laundering, and give examples
Discuss the different bank policies, and other combating factors to mitigate the risk of TBML
Explain how TBML is identified, and the coherent flags to help with this.