Regulatory Alerts2025-03-27 | Circular No.02Red Flag Indicators for Trade Based Money Laundering (TBML)
The Financial Monitoring Unit mandates all reporting entities to integrate newly developed red flag indicators into their existing AML/CFT frameworks to improve the detection of trade-based money laundering. These indicators serve as essential tools for identifying suspicious activities such as trade mis-invoicing, phantom shipments, and illicit financial flows. Reporting entities must apply these standards within their risk assessment and transaction monitoring processes to enhance the quality and effectiveness of suspicious transaction reports submitted via the goAML system.
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