DOJ Intensifies Trade Fraud Crackdown with New Enforcement Unit
Summary The US Department of Justice has created a new Market, Government, and Consumer Fraud Unit (MGCF) by merging its Criminal and Civil Division resources to combat trade fraud and tariff evasion. This consolidation represents a strategic pivot toward targeting sophisticated trade-based financial crimes, particularly in response to increased tariffs on Chinese imports exceeding 50%. […]
UK Customs Reveals New Strategy to Combat Multi-Billion Dollar Trade-Based Money Laundering Crisis
Summary HMRC has established a dedicated TBML Threats Team and launched major international initiatives to combat trade-based money laundering, including a global summit attended by 20 jurisdictions. The strategy focuses on capability building, engagement, intelligence gathering, and operational activities, while highlighting how criminals exploit the fact that less than 5% of global shipments undergo compliance […]