Fraud and money laundering go hand in hand and fraudsters are early adopters of new money laundering opportunities; as participation in the cryptocurrency space gains momentum, so does fraud. This is not surprising as cryptocurrencies (virtual assets) can be lucrative, easily interchangeable and moved while...
Navigating the TBML Minefield: The Aftermath of India’s Largest Bank Fraud

Twelve years after the Financial Action Task Force’s first advisory report,1 trade-based money laundering (TBML) remains the most sophisticated method to launder illicit funds and move “value” within/across country borders, in the guise of legitimate trade transactions. Hundreds of billions of dollars are laundered via...