Trade-based money laundering: Risks and regulatory responses
Clare Sullivan Evan Smith
Australian Institute of Criminology
This report examines the use of trade, principally international trade, to launder the proceeds of crime and the effect that trade-based money laundering (TBML) has on Australian interests. The aim was to assess the nature, extent and ramifications of TBML globally and the possible risks for money laundering in Australia.
This research is based on an assessment of a range of publicly available resources from Australian and international government agencies, the private sector and academic research. This was supplemented by background information provided by Australian and international stakeholders and experts.
This report argues that the formation of a regulatory framework to deal with TBML would be premature and unnecessary at this stage, as more research needs to be conducted to ascertain with greater precision the nature, risks and prevalence of TBML in Australia.