The Financial Intelligence Centre has released the 2022 Trends Report.
The FIC continues to see the value in sharing the trends, methods and risks relating to money laundering, terrorism financing and proliferation financing (ML/TF/PF). The 2022 Trends Report outlines the ML/TF trends observed by the FIC in the course of its operations. This report serves to educate reporting entities, the public and other stakeholders on the nature, methods and techniques employed by perpetrators of money laundering, its predicate offences and terrorism financing.
The major trend highlighted based on analysed cases during the period under review was the use of corporate vehicles for illegal activities. It was noted that this resulted in illicit financial flows. The use of corporate vehicles for illegal activities is perpetuated through schemes that begin from how company shareholding and beneficial ownership is devised, to how financial transactions are controlled and effected. The main drivers/sources of the illicit flows remain largely commercial activities including trade based money laundering, tax crime, procurement related corruption, cyber fraud and circumvention of transaction thresholds in specified sectors.
The full report can be downloaded on the link below.
 TRENDS REPORT 2022.pdf | [ ] |
