Recorded February 5, 2020
The sale of counterfeit goods may be thought of as a relatively harmless
crime, when in reality production, sale, and distribution of counterfeit goods
represents money laundering, corruption, fraud, human trafficking, sanctions
evasion, and terrorist finance. Much like the sale of illegal narcotics, the
production, distribution, and sale of counterfeit goods can yield hundreds of
billions of dollars every year. As a result, transnational and localized
organized crime groups are involved at every step of the operation. This session
will highlight the risks involved with the sale of counterfeit goods, as well as
the illicit actors involved, and how these goods make their way into the stream
of commerce. This session will explain the nexus between organized criminal
activity and the sale of counterfeit goods, while drawing sharp correlations to
traditional anti-money laundering controls. Attendees will learn the risk
indicators of the sale of counterfeit goods, as well as how to use open source
databases to enhance due diligence searches for potential vendors linked to the
sale of counterfeit goods. The session will provide recommendations on how to
leverage analytics and gap analysis to further detect potentially high-risk
customers, products, and transactions.
Presented by:
Michael Schidlow, Scienter Group
The views and opinions expressed in this presentation are those of the
individual presenters and do not represent official policy, position, opinions,
or views of NW3C.
NW3C does not share webinar attendees’ personally identifiable information
with any third party without opt-in consent given during
registration.