PRICE VARIATIONS IN TOBACCO TRADES COULD MASK DIRTY MONEY FLOWS, COMMERCIAL DATABASE WARNS
July 2nd, 2020
THE INTERNATIONAL trade in tobacco products and inputs contains significant variations in prices that might indicate the presence of trade-based money laundering – of TBML – a specialist database indicates. Certain trade flows are exploited by money launderers seeking to move criminal proceeds from one country to another through artificial pricing – deliberate over- and under- invoicing.
Being linked to such illegal trades could pose significant reputational and regulatory compliance risk for tobacco companies and their suppliers. So, checking where such ...
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