Concealed identities: money laundering with stolen art and antiquities

The modern art and antiquities markets are particularly vulnerable to money laundering. This is partly explained by the changing character of art and the global art market in general. Investing in art is a new method used to diversify portfolios with secure and long-term investments. Due to skyrocketing prices in the art market, investors are […]

Connections between money laundering, real estate development and the property market

Recent years have seen a drastic spike in suspected use of real estate development and property transactions for money laundering. In 2020, Germany’s Financial Intelligence Unit (FIU Deutschland) reported a 50 % increase in the number of suspected transactions across Germany, a similar trend that can be recognised across Europe.   Both the European Commission […]

Terrorist financing under the TRACE microscope 

Terrorism has been damaging the social fabric at intra- and inter-EU borders. It causes significant economic losses that, since 2004, have amounted to €185 billion in lost GDP and approximately €5.6 billion in damages to infrastructure, injuries, and lost lives, including medical treatment costs and lost lifetime earnings. It impacts adversely on human well-being, increases […]

Crypto-asset trading business: links to Money Laundering and Terrorist Financing?

The crypto-asset trading business facilitates increasing illicit money flows, inter alia, for terrorist financing purposes. Decentralised exchanges allow users with unhosted wallets to exchange crypto-assets without a centralised party, which would normally conduct Know Your Customer (KYC), Client Due Diligence (CDD) and AML/CTF checks, and thus pave the way for layering crime proceeds on the […]

TRACE attends CCI Final Conference: Designing Security Futures

TRACE is delighted to have participated in the EU-funded Cutting Crime Impact (CCI) projects final conference Designing Security Futures hosted in Brussels on the 24-25th of November. TRACE and PROTAX project were represented by Dr. Dimitris Kafetaranis, Assistant Professor in Law, at the Centre for Financial and Corporate Integrity at Coventry University.  Designing Security Futures explored and discussed the results of […]

Online gambling: the perfect disguise to transfer illicit profits

Online gambling and money laundering have become the perfect partners. In 2020 the Online Gambling Gross Income in Europe reached approximately 24 billion Euros.  According to EUROPOL, the EU loses an estimated 120 billion Euros annually due to money laundering. Add cryptocurrency into the mix and you face a challenge unforeseen by law enforcement agencies […]

TRACE Focus Group Discussions with Law Enforcement Agencies (LEAs)

Every year, cross-border investigation into illicit money flows (IMFs) are hindered by fragmented e-evidence. The TRACE project addresses this issue by delivering a modular open-source framework for money-laundering investigations which can be tailored to meet law enforcement agencies’ needs.  TRACE solutions will empower law enforcement agencies to connect and visualise criminal networks, organisations, its people, and […]

Pandora Papers: Does history repeat?

The recent Pandora Papers[1] have once again confirmed the importance of whistle-blowers and investigative journalists in unearthing the hidden and illicit activities of the most powerful and wealthy individuals in our societies. As PROTAX Case Studies (D1.2) back in 2018 found, the majority of the high value tax fraud and tax evasion cases are discovered […]

Clustering in Horizon Europe

With the European Commission insisting on the importance of multiplying impact across several projects usually funded under the same call, clustering in Horizon Europe becomes a critical activity. This means that proposals involving well-described, extensive clustering activities will have more chances of being granted. The present text outlines the importance of clustering in Horizon Europe […]