Trade data can detect illegal financial flows, Bank of Italy paper says
Authorities largely ignore “trade-based money laundering”, authors argue
Financial regulators could cast more light on a largely unknown form of money laundering by using bilateral trade data, a working paper published by the Bank of Italy says.
In Magic mirror in my hand… how trade mirror statistics can help us detect illegal financial flows, Mario Gara, Michele Giammatteo and Enrico Tosti say that legal authorities take very little effective action against one of the most common forms of money laundering.
“Criminals worldwide typically use misreporting tricks of
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