News

Drug traffickers, terrorists and other criminals successfully move and launder hundreds of billions of dollars each year by mis-invoicing seemingly legitimate goods and services, and falsifying cargo manifests and other documents associated with global trade. The general scarcity of information technology for matching financial, commercial and shipping data impedes bankers and investigators' visibility into illegal imports of opioids into the U.S. and other criminal schemes, and makes trade-based money laundering among the most widely used and least understood methods to conceal illicit funds. In an emailed conversation with ACAMS moneylaundering.com senior reporter Valentina Pasquali, Sen. Bill Cassidy (R-LA), a gastroenterologist...