WORLD’S GROWING NUMBER OF FREE TRADE ZONES ABUSED BY MONEY LAUNDERERS
April 21st, 2023
With the world’s illicit economy making up between 7% and 15% of global GDP according to the International Coalition Against Illicit Economies (ICAIE) (1), a national security NGO based in Washington DC, the need for robust law enforcement, including AML controls is clear. So, proliferation of free trade zones (FTZ) worldwide where governments proactively remove customs and other regulatory controls cuts against the trend of smarter and focused actions against ML and TF. The ICAIE released a report last June (2022) ‘The Dark Side of Illicit Economies and ...
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