On February 18th, the Financial Crimes Enforcement Network issued an advisory to assist the financial industry in reporting suspected instances of trade-based money laundering. The advisory contains examples of "red flags" based on activity observed in Suspicious Activity Reports that may indicate trade-based money laundering. Advisory. See also Freis Remarks (address of FinCEN Director before the Florida International Bankers Association 2010 AML Conference).
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FinCEN issues advisory on trade-based money laundering
- Winston & Strawn LLP
- USA
- February 22 2010
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Don Sangster
Legal Department Administrator
Jovian Capital Corporation