ILLICIT TRADE ON THE HIGH SEAS: METHODS, RISKS, AND LEGAL RESPONSES TO TBML IN MARITIME SECTOR

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Dokuz Eylül Üniversitesi Denizcilik Fakültesi Dergisi
Cilt: 17 Sayı: 2
ILLICIT TRADE ON THE HIGH SEAS: METHODS, RISKS, AND LEGAL RESPONSES TO TBML IN MARITIME SECTOR

ILLICIT TRADE ON THE HIGH SEAS: METHODS, RISKS, AND LEGAL RESPONSES TO TBML IN MARITIME SECTOR

Pages : 298-333

View : 46 | Download : 94

Publication Date : 2025-12-25

Article Type : Research Paper

Abstract :Global illicit activity like money laundering seriously jeopardizes the integrity of the financial system. Because of its operational dimension, dependency on documentation, weak customs regulations, and differing legal structures between jurisdictions, the maritime sector—which accounts for a significant amount of global trade—is especially prone to trade-based money laundering. By taking advantage of ports, free trade zones, and shipping lanes to pass off illicit proceeds as regular trade movements, illegally operating operations incorporate illegal funds into the international financial system. By examining previous research, legislative documents, and certain chosen case studies, this study explores trade-based money laundering in maritime sector. It draws attention to the threats involved, the fundamental weaknesses, and the part performed by international organizations in setting up preventive measures. Along with evaluating current supervision procedures, the study offers regulators recommendations for improving intergovernmental collaboration, bolstering surveillance capabilities, and aligning international norms. The study comes to the conclusion that in order to preserve the financial stability and ensure the durability of the global economy, it is imperative to deal with trade-based money laundering in maritime sector.
Keywords : Trade-based Money Laundering, Maritime, Illicit Financial Flows, Misinvoicing, Financial Crime Prevention

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