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Helsinki Commission and House Financial Services Committee Announce Joint Briefing on Trade-Based Money Laundering

WASHINGTON—The Commission on Security and Cooperation in Europe, also known as the Helsinki Commission, in partnership with the House Financial Services Committee, today announced the following joint briefing:

SHADY SHIPPING
Understanding Trade-Based Money Laundering

Friday, May 24, 2019
9:30 a.m.
Rayburn House Office Building
Room 2360

Live Webcast: www.facebook.com/HelsinkiCommission

Trade-based money laundering (TBML) is the process of disguising the proceeds of crime and moving value through the use of trade transactions in an attempt to legitimize their illicit origins. This highly sophisticated form of money laundering has become a favorite method for transnational criminals, dictators, and terrorists to move ill-gotten gains to new jurisdictions.

This event will examine what TBML is, how it works, and why it has become such a ubiquitous method of laundering money. Panelists will also discuss the broader interplay of illicit commerce, global corruption, and TBML. Finally, panelists will recommend practical steps the United States and non-governmental organizations can take to counter TBML.

The following panelists are scheduled to participate:

  • John Cassara, Special Agent, U.S. Department of the Treasury, retired
  • Lakshmi Kumar, Policy Director, Global Financial Integrity
  • David Luna, President and CEO, Luna Global Networks

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