The New Economy in Financial Crimes: Understanding the effects of Under-Invoicing, Double Invoicing and False Invoicing in Trade-Based Money Laundering and Terrorist Financing (TBML & TF) Schemes

Author: J. Scott Mauro, CAMS-FCI

This white paper details the effects under-invoicing, double-invoicing and false invoicing in trade-based money laundering and discussed the application of four (4) profiling techniques used to recognize trade-based money laundering that focus on country, customs district, and product and transaction price characteristics. Being aware of, and also being able to recognize these techniques, will be a useful in application for many financial institutions financial crimes personnel when monitoring corporate accounts within the institution.

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