MONEY LAUNDERERS ABUSE METAL MARKETS SAYS FATF
July 1st, 2006
BY KEITH NUTHALL
AN EXPERT report from the world's top anti-money laundering body has shown how organised criminals are exploiting the global metal trade to conceal the origin of their ill-gotten gains. The annual 'typologies' report from the Financial Action Task Force (FATF) looks at how world-trading systems are abused by money launderers. And non-ferrous metal, especially precious metal, is an ideal commodity for disguising the criminal origins of money used to purchase consignments.
One case study involved a Columbian cartel smuggling drugs into the USA, ...
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