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Troika Laundromat reveals the gaps in AML compliance

Jaclyn Jaeger
Compliance Week
April 1, 2019

Mr. Middlemiss is quoted multiple times throughout the article.  Compliance Week subscribers click here to read the full article.

“Trade-based money laundering. As with many Laundromats, trade-based money laundering involves criminals moving substantial sums of money across borders by fraudulently manipulating the price, quantity, or quality of a good or service on an invoice submitted to customs. “The bad guys count on the chances of them being caught as being very low, because they’re able to hide within that sea of otherwise legitimate transactions,” says Art Middlemiss, former director of the global anti-corruption program at JPMorgan Chase and now a partner at Lewis Baach Kaufmann Middlemiss.