February 27,2023
Central Bank of Bahrain cites MENA FCCG in newly released Guide on Trade Based Financial Crime
In February 2023, Central Bank of Bahrain (CBB) issued Guidance on Trade Based Money Laundering. The 20-page document aims to assist financial institutions in understanding trade-based money laundering, means of identifying associated suspicious activity, and best practices in this regard. The Guidance paper cites MENA FCCG and the Global Coalition to Fight Financial Crime (GCFFC) MENA Chapter – ‘Trade Based Financial Crime (TBFC) Reference Guide’ issued in October 2022 as one of the key resources deployed in developing the CBB Guide.
