Transcription of Trade Based Money Laundering - FATF-GAFI.ORG
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Trade Based Money Laundering - FATF-GAFI.ORG
Financial Action Task Force Groupe d'action financi re Trade Based Money Laundering . 23 JUNE 2006. 2006 FATF/OECD. All rights reserved. No reproduction or translation of this publication may be made without prior written permission. Applications for such permission should be made to: FATF Secretariat, 2 rue Andr -Pascal, 75775 Paris Cedex 16, France Fax: +33 1 44 30 61 37 or Table of Contents Executive Summary .. i 1. 1. 2. The International Trade System .. 2. 3. Abuse of the International Trade System .. 2. Tax Avoidance and 2. Capital Flight .. 3. Trade - Based Money Laundering .. 3. 4. Basic Trade - Based Money Laundering 3. Over- and Under-Invoicing of Goods and Services .. 4. Multiple Invoicing of Goods and 5. Over- and Under-Shipments of Goods and Services.
extend the 8 Special Recommendations on terrorist financing to cover cash couriers, as well as the ongoing efforts of countries to implement these stricter standards, may have the unintended effect of increasing the attractiveness of the international trade system for money laundering and terrorist financing activities.2
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