Cash Based Money Laundering in Sub Saharan Africa by FCN - Premium

Cash-based money laundering is the main means by which criminal organisations and terrorist financiers launder money, not just in SSA, but also around the world. Proceeds of crime are often generated in cash, or cash plays a crucial role in the process of laundering. Even when other methods are used, such as TBML, or when using virtual currencies, cash still forms a part of the transaction history and enables the activity.

FATF in their 2015 report, Money Laundering Through the Physical Transportation of Cash, highlighted that “despite the increasing prevalence of non-cash payment methods in developed economies, cash remains an important means of settlement across the globe with between 46% and 82% of all transactions in all countries being conducted in cash.”

For More READ/DOWNLOAD the extract from the SSA Threat Assessment. See HERE: Cash Based ML in SSA by FCN – 2020

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