GF Trade: Trade Misinvoicing and Trade Based Money Laundering Risk Assessment


November 2016

GFTrade can be utilized by customs offices or other departments that experience financial loss due to trade misinvoicing and are motivated either by a desire to collect correct taxes and tariffs or to prevent trade-based money laundering. Officials at ports or at points of inspection, scanning, documentation, or tariff collection, are logical government end-users. Additional government users include ministries of revenue, finance, the Central Bank and the justice ministry which rely on comparative trade data for price prediction and reporting, or prosecution purposes. Further, the database can also be utilized by banks providing trade financing, by insurance firms providing coverage to shipping firms, and other users when ensuring accurate trade pricing is essential.