Trade–Based Money Laundering: The Next Frontier in International Money Laundering Enforcement

Praise for TRADE–BASED MONEY LAUNDERING

"Trade–based money laundering (TBML) challenges the entire global AML community. John Cassara clearly recognizes this fact and developed ′The Next Frontier′ to aid BOTH the private and public sectors. We all owe John a debt of gratitude for his career leadership and commitment to money laundering prevention."
John J. Byrne, Esq., CAMS, Executive Vice President, Association of Certified Anti–Money Laundering Specialists (ACAMS)

"This book is a fabulous practical ready reference. It exposes a significant problem, trade–based money laundering. As someone who trains AML professionals, I plan to use Mr. Cassara′s book as a valuable learning tool. Well done, John."
Dennis M. Lormel, Founder and former Chief of the FBI′s Terrorist Financing Operations Section

"An insightful and eye–popping book about what may be the biggest global financial crime that nobody can see. TBML is conducted in plain sight but is so vast and multi–layered that it is incredibly difficult to identify. Written with the keen eye of experience from a career in federal intelligence and law enforcement, John Cassara′s latest work will educate you with facts and keep you entertained with real–life anecdotes every step of the way."
Karen Terrell, President, SAS Federal

"If there′s an expert in the field of Trade–Based Money Laundering, it′s John Cassara. I′ve known John for more than twenty years. During that time, John has investigated TBML as a law enforcement agent and studied it from every angle. TBML is a hot topic in anti–money laundering/combating the financing of terrorism (AML/CFT), and this book is very timely in that it tackles a complex topic in plain language mixed with John′s investigative insights."
Lester Josepth, Former DOJ prosecutor and current bank compliance officer

"Since entering the field of financial crime, John has been a tremendous influence on me. He is very instrumental in his approach to the topic of money laundering and is very clear on the intricacies and complexities it brings. I had the pleasure of working with him first hand and can say the audience we presented in front of was captivated by the information he delivered."
Steven Crociata, Director of Compliance Programming and Strategic Accounts, ACFCS Association of Certified Financial Crime Specialists

Foreword

Preface

Acknowledgments

About the Author

Chapter 1: The Next Frontier

Chapter 2: Basic Techniques Invoice Fraud

Chapter 3: The Black Market Peso Exchange

Chapter 4: Hawala

Chapter 5: Chinese Flying Money

Chapter 6: The Misuse of the International Gold Trade

Chapter 7: Commercial Trade–Based Money Laundering

Chapter 8: Miscellaneous Forms of Trade–Based Money Laundering

Chapter 9: Monitoring the Misuse of Trade

Chapter 10: Red–flag Indicators

Chapter 11: Conclusion and Steps Forward

Appendix A: Money Laundering Primer

Appendix B: Original Trade Transparency Unit (TTU) Proposal

Glossary

Index

JOHN A. CASSARA is an expert in anti–money laundering and terrorist financing, with special expertise in money laundering in the Middle East and the growing threat of alternative remittance systems and forms of trade–based money laundering and value transfer. A 26–year veteran of the federal government intelligence and law enforcement communities, he is an industry advisor for SAS, as well as author and co–author of numerous articles and books.