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Thomson Reuters, a source of news and information for professional markets, has today announced the launch of TRAC, a new anti-money laundering solution to combat trade based money laundering (TBML) and drive transparency and efficiency across trade finance.
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Trade Based Money Laundering
TBML is the use of international trade as a channel for legitimising money obtained from illicit activities. Schemes differ in complexity but usually involve misrepresentation of the price, quantity or quality of imports or exports. Financial institutions may unknowingly be implicated in these ... (read more)