Money laundering is a global menace, with most countries being equally susceptible to it. Our earlier blogposts focused on understanding trade-based money laundering (TBML), its evolution as a major roadblock on the anti-money laundering front (AML), the need to improve overall AML governance frameworks and varying dynamics witnessed from a macro standpoint.
In our earlier blogpost, we discussed how trade-based money laundering (TBML) is emerging as the new hurdle on the anti-money laundering front, although financial institutions have striven to improve their overall anti-money laundering (AML) governance framework. Today, this issue is more than a local concern – it is a key global financial issue, which Governments, … More Trade-based money laundering – a macro view of the changing dynamics
Trade-based transactions have gained considerable flak over the years due to the complexities involved. Traditionally, trade finance has always been viewed as a high risk area, particularly related to fraud. This perception has transformed recently, and regulators and international bodies have increasingly started viewing trade finance as a ‘high risk’ area of business for money laundering, … More Trade-based money laundering – a growing dilemma for the banking industry
The banking and financial services sector has weathered many storms since the global slowdown. But recent news around increasing stressed assets and instances of bribery and corruption has highlighted the risks faced by the sector in India. To understand its impact, our team conducted a survey to decode the reasons and challenges around the rising Non Performing … More Unmasking India’s NPA issues – can the banking sector overcome this phase?