FOOD INDUSTRY MONEY LAUNDERING EXPOSURE
July 1st, 2006
BY KEITH NUTHALL
THE WORLD'S international money laundering watchdog has warned the global food trade is exploited by criminals moving illicit funds to legitimate bank-accounts. A case study released by the Financial Action Task Force (FATF) has revealed how an unnamed offshore food trading company received revenue from 'blood diamonds', mined by forced labour. These payments were mixed with legitimate food profits.
ENDS
THE WORLD'S international money laundering watchdog has warned the global food trade is exploited by criminals moving illicit funds to legitimate bank-accounts. A case study released by the Financial Action Task Force (FATF) has revealed how an unnamed offshore food trading company received revenue from 'blood diamonds', mined by forced labour. These payments were mixed with legitimate food profits.
ENDS
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