UNDER- AND OVER-INVOICING TOUGH NUT TO CRACK FOR MONEY LAUNDERING INVESTIGATORS
July 1st, 2009
BY DEIRDRE MASON
UNDER- and over-invoicing is an effective means of money laundering that is proving to be a complex nut to crack for the agencies charged with tracking down fraud and its proceeds. Money launderers can move large sums between countries by undervaluing exports to a foreign destination or by overvaluing imports. Oscar Kilo Ltd, a data analysis company based in Berkshire, UK, and offering services to track down invoicing fraud, explained to the Money Laundering Bulletin: "Under- and over-invoicing is not really a type of invoicing fraud, more ...
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