Digitization of compliance process a must to prevent Trade-based money laundering


January 16 2018

International trade is the backbone of globalization and an imperative for economies to grow. For India as well, growing its trading prowess is critical to its rise as a global economy. The biggest and the most powerful economies look for a trading partner that is strongly regulated and has a clean record, supplemented by the ease of doing business. It is therefore a priority for India as an economy to have strong checks and balances to ensure that the trading framework is free from any loopholes for any trade based money laundering (TBML) activity.