Combating overvaluation: Malawi’s experience

Trade-based money laundering (TBML) is defined by the Financial Action Task Force (FATF) as the process of disguising the proceeds of crime, and moving the money into the formal economy through the use of trade transactions in an attempt to legitimize its illicit origins. In practice, this can be achieved notably through the misrepresentation of the price, as well as the quantity or quality of imports and/or exports.