What is Trade-Based Money Laundering?
What is trade-based money laundering and how can your Bank Secrecy Act and front-line personnel recognize it? Here is part 2 of our 3-part series in Risk Watch on Bank Secrecy Act reporting. Due to the sensitive nature of BSA reporting by financial institutions, usually little is heard about it. But if front line and BSA personnel never hear what can become of their efforts, it is easy for this important work to seem like a pointless exercise, which can lead to lapses in vigilance. Dayne Bloxham of AdvisX presents this three-minute look at the emerging issue of trade-based money laundering. [6/26/19]
