TI CALLS FOR COMPREHENSIVE GOVERNMENT AND INDUSTRY ACTION TO FIGHT LUXURY GOOD LAUNDERING
April 1st, 2017
ANTI-CORRUPTION organisation Transparency International (TI) has called for a comprehensive tightening of regulatory and commercial action to restrict how luxury goods are abused as money laundering vehicles and to promote graft.
A new TI report ‘Tainted Treasures: Money laundering risks in luxury markets’ concludes that too little due diligence focuses on luxury goods buyers and where there are luxury goods laws, enforcement is weak. As a result, it calls on governments with major luxury goods trades, including China, Japan, the US and the UK, to introduce ...
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