This article explores the application of retrieval-augmented generation combined with semantic search technologies in the detection of trade-based money laundering (TBML). Retrieval-augmented generation combined with semantic...more
Governments worldwide are sharpening their focus on money laundering executed through international trade. Anti-money laundering obligations on entities beyond traditional financial institutions continue to expand. Companies...more
On January 29, 2020, the U.S. Government Accountability Office (GAO) publicly released the results of a study which the GAO conducted on trade-based money laundering, or TBML, entitled “Countering Illicit Finance and Trade:...more
Since the September 11, 2001, terrorist attacks, U.S. law enforcement and financial regulatory agencies have focused on disrupting the use of the financial system by terrorist groups, criminal organizations and tax evaders to...more
On April 21, 2015, the Treasury Department’s Financial Crimes Enforcement Network issued a geographic targeting order, an anti-money laundering device focused on trade-based money laundering schemes used by drug cartels,...more
Lauren Connell, Managing Associate at The Volkov Law Group, joins us again with a posting on AML trends. They say that when one door closes another will open. Unfortunately, that appears to hold true for criminal money...more