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Key Takeaways
International trade and the infrastructure that supports it (regulations, institutions, practices) are important drivers and enablers of the illegal timber trade in Peru.
This Trade Discrepancy Analysis (TDA) identifies significant and consistent discrepancies in the international trade of wood and wood products coming out of Peru.
Data show consistently undervalued timber exports to Mexico and to the United States, which could be a sign of under-invoicing to avoid taxes or profit in informal currency exchange markets. In contrast, data show consistently overvalued timber exports to China and the Dominican Republic, which could be a means to transfer illicit funds into the country, or to abuse export incentives.
Brand protection during the pandemic
Counterfeiting continues to spread globally like a plague. In recent years, with the expansion of the Internet, brand-protection teams have had to battle with counterfeiters online, usually with limited resources to tackle these illicit traders. Fake goods are sold online directly to consumers, one item at a time, often by formidable and well-hidden criminal networks.
In 2017, Global Financial Integrity found that transnational crime turned over between $1.6 trillion and $2.2 trillion annually, with counterfeiting valued as the most lucrative crime ($923 billion to $1.13 trillion) followed by drug trafficking ($426 billion to $652 billion). Despite this, counterfeiting is a low priority for enforcement officials, making it a low-risk, high-reward crime. Although fake goods are often of poor quality and potentially dangerous, consumer demand for these goods is high. Under these circumstances – high demand and weak enforcement – anti-counterfe
Fri May 07 2021
The House of Representatives has called for stringent measures in tackling Illicit Financial Flows (IFF) as Nigeria has lost $140 billion (about N53.2 trillion) to this in 14 years.
The call followed the adoption of a motion by Rep. Ochiglegor Idagbo during plenary on Thursday with emphasis on anti-graft agencies and the Central Bank of Nigeria (CBN) helping to tackle this.
Citing Global Financial Integrity 2014 report, Idagbo said Nigeria lost $140bn to illicit financial flows between 2000 and 2014 executed through crude oil and commercial activities mispricing.
He said Nigeria was ranked among the global top 30 countries having Illicit Financial Outflows by dollar value adding that, $8.3bn was involved in 2015 alone.
How America Became the Money
Laundering Capital of the World
The U.S. is the venue of choice for cartels and kleptocrats. Now lawmakers want to use an agency called FinCEN to do something about it.
Jorge VINUEZA/AFP/Getty Images
May 7, 2021
In March, federal agents raided the Beverly Hills premises of a company called U.S. Private Vaults. According to a subsequent grand jury indictment, U.S. Private Vaults was a money laundering operation where drug dealers and others could anonymously stash fentanyl, guns, and “huge stacks of $100 bills” in safe deposit boxes. U.S. Private Vaults didn’t really bother to hide its business, boasting in ads, “We don’t even want to know your name.” It also shared its strip mall storefront with Gold Business, which allegedly specialized in laundering drug money via purchases of gold.
Reps probe reports on $348bn illicit financial flow, loss of public funds tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.