Saint Lucia Selected as First to Test World Bank Tool Against Trade-Based Money Laundering

Saint Lucia selected as first to test World Bank tool against trade-based money laundering

Saint Lucia has been selected to become the first country to test a World Bank risk assessment tool designed to combat trade-based money laundering (TBML). TBML typically involves disguising the movement of illicit funds through trade transactions, such as falsifying invoices or misrepresenting shipments, and is considered one of the most complex forms of financial crime worldwide. The tool is being piloted during a three-day workshop, starting …

Saint Lucia Hosts Groundbreaking Trade-Based Money Laundering Risk Assessment Workshop - The Voice St. Lucia News

The National Anti-Money Laundering Oversight Committee (NAMLOC), in partnership with the World Bank, is today hosting a landmark Trade-Based Money … The post Saint Lucia Hosts Groundbreaking Trade-Based Money Laundering Risk Assessment Workshop appeared first on The Voice St. Lucia News.