Contemporary Trends in Trade-Based Money Laundering
1st Edition, February 2024
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Contemporary Trends in Global Trade-Based Money Laundering is a consolidated enlightenment of the advanced world of illicit financial activities, with a particular focus on the insidious phenomenon of trade-based money laundering (TBML). This book delves into complex mechanisms employed by perpetrators to exploit legitimate international trade transactions for the purpose of disguising the illicit origins of funds. The narrative unfolds against the backdrop of a rapidly evolving global economy, where the financial ecosystems have provided both opportunities and challenges for those seeking to manipulate the financial landscape. Through meticulous secondary research and case studies, this book aims to demystify the methods employed in TBML, illuminating the various disguises, trade structures, and financial instruments utilized by money launderers. Readers will embark on a journey through real-world examples of TBML, exploring high-profile cases that have characterized regulatory responses and law enforcement strategies. The book also provides an in-depth analysis of the gaps within existing international trade frameworks and financial systems that contribute to the success of TBML schemes. The book further seeks to contribute to the ongoing discourse on anti-money laundering efforts, urging stakeholders to collaborate in creating a more robust and resilient financial ecosystem that upholds the principles of transparency, integrity, and accountability. In addition to showcasing the dynamics of TBML, the study offers a forward-looking perspective, proposing innovative solutions and policy recommendations aimed at fostering the resilience of the global financial system against the ever-evolving tactics of money launderers. As the global community confronts the challenges posed by illicit financial activities, this book serves as a call to action, advocating for a united front against the shadowy forces that seek to undermine the integrity of international trade and finance.
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About the Book
Contemporary Trends in Global Trade-Based Money Laundering is a consolidated enlightenment of the advanced world of illicit financial activities, with a particular focus on the insidious phenomenon of trade-based money laundering (TBML). This book delves into complex mechanisms employed by perpetrators to exploit legitimate international trade transactions for the purpose of disguising the illicit origins of funds.
About the Author
A renowned Financial Security Expert, a Doctoral product, SBS Swiss Business School, Zurich, Switzerland of Business Administration, Master of Applied Business Research, Master of Business Administration, and an Executive MBA candidate of Cybersecurity at Ottawa University in the United States of America. I have acquired two (2) decades of specialization in financial planning and advisory, risk management and cybersecurity. Over the period, I have had experiences in financial greenfield projects, working with various institutions and stakeholders in more than a dozen countries across Africa and Latin America, to improve access and quality of financial products and services for low-income and underserved individuals. I have held Senior leadership positions in Investment Companies, Microfinance Banks, Savings and Loans companies, and Social Enterprises, where I have led teams, projects, and initiatives to expand market reach through greenfield projects, developed new products, deployed alternative delivery channels, developed public-private partnerships for national inclusive programs, and conducted consultancy projects for UNCDF related to donor funding projects. I have also provided technical and operational support and advice to regional and global networks and partners. At the helm of FINCA – USA (Nigeria subsidiary) as CEO, and as an influential figure within ACCION International, USA, I demonstrated prowess in international development initiatives. My endeavors in these institutions were characterized by the cultivation of substantial social capital, extending both quantitatively and qualitatively. I am passionate about availing my two decades of experience in corporate governance to industry and academia to enhance longitudinal exposure to developmental trends beneficial to multinational public and private sectors, to make our world a better place.