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Whitepaper
Money Laundering in the Fisheries Sector
Regulatory Challenges and Compliance Issues in Fisheries
Introduction
For more than 10 years, a fishing vessel known as Andrey Dolgov was found to be conducting illegal fishing business in the Indian, Pacific, and Southern Oceans. Until recently, most MLRO’s might have thought that the topic of money laundering was solely for high-risk industries. However, now it is becoming increasingly evident that sectors like fisheries, or IUU (Illicit, Irregular, Unregulated) fishing trade, may also be facing an increasing risk of exposure to money laundering.
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