February 28, 2013
John Cassara, former intelligence officer and Treasury Special Agent, gives an overview of trade-based money laundering and value transfer. He defines the term, briefly discusses the magnitude of the problem, and explains many of the methodologies involved. Trade-based value transfer is the common denominator in most underground financial systems including the black market peso exchange, hawala, and fei-chein. Cassara gives examples of narcotics related trade-based money laundering and explains why examining value transfer is the “next frontier” in international money laundering enforcement.