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Association of Certified Anti-Money Laundering Specialists: China is 'uncooperative' with U.S. authorities in cracking down on money laundering
The Southern California Chapter of the Association of Certified Anti-Money Laundering Specialists (ACAMS) recently released a report which details how China engages in trade-based money laundering (TBML) to legitimize the profits of criminal activities by utilizing intermediaries in the U.S. and Mexico. Experts estimate that between $294 billion and $736 billion USD is laundered through the Chinese economy each year.