Blogs for Saints.
🚯 Plastic Pollution Isn’t Just a Science Problem — It’s a Justice Problem
Every day, people across India and the world wake up to the harsh reality of plastic pollution — not just in the environment, but in their homes, lungs, and livelihoods. While policymakers gather behind closed doors, one truth is becoming...
🌍 Why Youth Must Shape the Global Plastics Treaty: A Voice from India
Plastic is everywhere — in our oceans, our food, even in our blood.India, one of the top plastic-producing and consuming nations, is at the center of this crisis. And as world leaders meet to draft the Global Plastics Treaty, young...
Safeguarding India's Credit Facilities: A Multifaceted Approach to Combat Money Laundering
The financial landscape in India, characterized by the widespread use of credit facilities, is adouble-edged sword. While these facilities empower individuals and businesses, they alsoserve as a breeding ground for money laundering. In this article, we explore a multifacetedapproach to...
Preventing Money Laundering in Political Campaigns and Elections
To combat the influence of criminals in Indian politics, several measures can be taken: 1. Transparency: Political parties should declare their assets, liabilities, andelection-related expenditures before and after major elections. Audited financial statementsand detailed returns, including the sources of funds,...
Elections: … A Money “Washing Machine”
Money Laundering in Indian PoliticalCampaigns and Elections In India, political campaigns and elections are monumental undertakings, requiringsubstantial time and financial resources. Studies indicate that an aspiring Member ofParliament in India spends an average of around ₹5 crore to ₹10 crore...
What are the “red flags” that might alert one to it?
Red Flags for TBML in the US (ICE):In the United States, ICE (U.S. Immigration and Customs Enforcement) has identified several"red flags" that may indicate the presence of Trade-Based Money Laundering (TBML):- Payments to a vendor made by unrelated third parties.-...
What can I do to prevent or detect it?
Supply Chain Roles in TBML Prevention 1. Stakeholder ResponsibilitiesExporters, importers, freight forwarders, carriers, tax, and customs authorities, as well aslaw enforcement and TCSPs, all play pivotal roles in tackling Trade-Based Money Laundering(TBML).2. Key AML/CFT MeasuresTo combat TBML effectively, supply chain...
Quality of the indicators might needs to be Identify
Similar to other forms of money laundering or illegal activities, doubts and suspicions canalso raise concerns regarding Trade-Based Money Laundering (TBML). Several organizationshave identified specific indicators or "red flags" that may prompt suspicions (as discussed insection 8 below).Essentially, the most...
How might it affect business in the Island?
In the Isle of Man, the potential risk associated with international trade and its impact onbanks and financial institutions is not unlike that in other jurisdictions. However, a uniqueconcern lies in the significant number of TCSPs (Trust and Corporate Service...
It is not just criminals that might use it
The misuse of international trade practices extends beyond criminal organizations and individualstrying to avoid taxes or evade exchange controls. In 2014, the US authorities acted by issuing aforfeiture order worth $102 million against a Lebanese bank that was implicated in...
Why is it important to be aware of the risk?
In the Isle of Man, entities such as TCSPs (Trust and Corporate Service Providers), legal firms,banks, and other financial institutions that fall under anti-money laundering and counter-financing of terrorism (AML/CFT) regulations play a crucial role in combating Trade-BasedMoney Laundering (TBML)....
Here’s a juicy dry fruit secret you didn’t see coming:The walnut — a superfood, gift box favorite, and high-margin import item — is being rerouted through Thailand to save massive customs duties in India. This is not smuggling.This is smart...
