May 19, 2016
Over the last few years, trade-based money laundering (TBML) has received increasing recognition as one of the top money laundering methods in the world. On the other hand, service-based money laundering is almost unknown in anti-laundering enforcement. Similar to TBML, SBML revolves around invoice fraud and manipulation. But instead of laundering money or transferring value through trade goods, services are used. Common service-based laundering scams include accounting, legal, marketing, and natural resource exploration fees. Fraudulent construction costs, such as the ones uncovered in Operation Car Wash, are ripe for abuse.