FATF TYPOLOGIES REPORT CLOTHING INDUSTRY MONEY LAUNDERING EXPOSURE
July 1st, 2006
BY ALAN OSBORN
THE WORLD'S top anti-money laundering body has warned that organised criminals have used French fashion purchases to help hide their ill-gotten gains. The Financial Action Task Force's (FATF) latest report on money laundering techniques has written about how illicit drug dealers have smuggled into France the cash proceeds of Japan drug sales. They have used this money to buy luxury lines in designer fashion stores, which have then been exported to Japan and resold by a shell company, which has deposited the money as legitimate profits into ...
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