FRENCH VINEYARDS’ AML RISK CONCERNS FOCUS ON CHINESE MONEY
April 21st, 2015
MONEY launderers are always looking for a new opportunity to clean dirty money, and have been exploiting sales of French vineyards for the purpose. Criminal networks have to this end leveraged a combination of a flagging domestic property market, increasing foreign interest in French property and wine, and a general ignorance among the real estate professional community about money laundering risks. But while the country’s financial intelligence unit Tracfin (Traitement du renseignement et action contre les circuits financiers clandestins) has in the past ...
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