Challenges in the Identification of Ultimate Beneficial Owners and Trade-Based Money Laundering in Indian Context Illicit financial flows through developing countries due to trade-based money laundering (TBML) is one of the most pressing challenges facing policymakers across the globe and India is no exception....

The risk-based approach (RBA), appearing as the first Financial Action Task Force (FATF) Recommendation, is the centerpiece of FATF’s February 2012 revision of its International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation: The FATF Recommendations. The fourth round of mutual...