COVID-19 may have crippled global trade, but a spate of arrests and seizures in Belgium show that drug trafficking and related cash flows in Europe have not stopped as a result, according to the country's financial intelligence unit, CTIF.
Belgium's financial intelligence unit, CTIF, has warned the country's prosecutors and financial institutions of a spike in suspected money laundering and fraud cases involving general partnerships, an easily formed and sparsely regulated type of corporate entity.
In an interview with ACAMS moneylaundering.com reporter Gabriel Vedrenne, Philippe de Koster, president of Belgium's financial intelligence unit, CTIF, discussed the agency's efforts to target terrorists' funds and seize assets from drug traffickers.