A long-term decline in the use of letters of credit in overseas commerce has left compliance officers less insight into suspected sanctions-evasion and trade-based money laundering schemes, sources told ACAMS moneylaundering.com.
Senator Bill Cassidy (R-LA) wrote a white paper that focuses on trade-based money laundering, which calls for increased cooperation between the private and public sectors in the fight against the crime.
September 4, 2019