7th December 2022
The FIAU would like to inform subject persons that the FATF has issued a guidance document which gives an overview of the way proceeds generated from synthetic opioids trafficking can be laundered. It highlights how the methods used to launder any such proceeds can vary from one country to another as organised crime groups make use of bulk cash smuggling, cash couriers, trade-based money laundering and virtual assets (crypto), as well as shell companies and the services of professional money launderers, to launder the same.
This report aims to raise awareness about the opioid trade, including the use of precursor chemicals, and the related global financial flows. This was deemed necessary because even though the majority of countries identify drug trafficking as a major predicate offence, the number of investigations and prosecutions concerning the laundering of proceeds from synthetic opioids trafficking remains low. It also includes recommendations on the best approaches to detect and disrupt the criminal networks involved, as well as relevant risk indicators which will aid in identifying potential trafficking of illicit synthetic opioids.
This Report can be accessed directly through the FATF website, or through the FIAU website by accessing the following link.