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In Trans-Pacific Deal, Criminal Opportunities to Grow Along with Trade
By Colby Adams
printA long-negotiated economic treaty finalized Monday will require global banks to review billions of dollars in subsequent trade transactions for potential links to financial crimes, according to analysts. Under the Trans-Pacific Partnership (TTP), the United States, Canada, Japan and eight other Pacific nations will phase out import tariffs, expedite customs checks and reduce barriers to cross-border financial services. Although terms of the deal have not been published, it is expected to link 40 percent of the global economy, making it the largest free-trade agreement in history. The accord will also invite black-market sales and trade-based money laundering, in large part...
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