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Tariffs, Sanctions and the Problem of Trade-Based Money Laundering

Clay R. Fuller
Board of Contributors
Nov 29, 2019 | 09:30 GMT
In this photo, authorities raid a fashion storefront in downtown Los Angeles on Sept. 10, 2014, as part of an investigation into the alleged laundering of narcotics profits by Mexican drug cartels.

Federal agents and local police officers raid a business in Los Angeles' fashion district on Sept. 10, 2014, as part of an investigation into alleged 'trade-based money laundering' by Mexican drug cartels. Authorities say the cartels use businesses to convert their narcotics profits into pesos.

(AL SEIB/Los Angeles Times via Getty Images)

States, businesses and individuals, eager to avoid duties and political frictions and penalties, are increasingly using commercial transactions to disguise illicit money transfers....

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