trade-based money laundering

Fashion Importer To Pay $118M Over Laundering Scheme

A Los Angeles fashion company under-invoiced imported clothes as a way of avoiding customs tariffs and laundering money, federal prosecutors said Wednesday as they announced Ambiance Apparel and its owner had agreed to plead guilty to the scheme and pay $118 million…

Read this piece in its entirety at Law360.

Report Highlights Importance of Trade-Based Money Laundering

A new report from the US Congressional Research Service details the importance of trade-based¬†money laundering¬†for criminal networks in Latin America and outlines some of the ways the region’s governments are attempting to combat illicit financial flows…

Read this piece in its entirety at InSight Crime.