MALAWI FIU PRODUCES A SECOND REPORT ON MONEY LAUNDERING TYPOLOGIES

The Malawi FIU has produced the second money laundering typologies report detailing how people and businesses in the country laundered proceeds of crime between January 2012 to December 2015, which happens to be the time when the country experienced a major public sector fraud scandal involving staff members in the public service and some business entities, commonly known as cashgate.

The report has sanitised case studies which contain information sourced from local law enforcement agencies (LEAs), the FIU database and the media.

Money laundering typologies generally refer to techniques, methods or trends through which proceeds of crime are processed by criminals to disguise the illegal origin.

The major methods used for money laundering during the stated period were: public sector fraud, private sector fraud, tax evasion, trade-based money laundering, wire transfers and use of cheques.

Malawi produced the first money laundering typologies report in 2011.

The recent Typologies Report can be accessed here: Download



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