<h1>International Customs Bust TBML Network: Synthetic Diamonds Used to Launder Money from India to Hong Kong; $1M Assets Frozen.</h1> Indian and Hong Kong Customs have dismantled a Trade-Based Money Laundering (TBML) network involving Hong Kong exporters and Indian importers in a Special Economic Zone. The scheme involved mis-declaring cheap synthetic diamonds as natural diamonds to illicitly remit foreign currency out of India. The investigation revealed that the importing entity exported overvalued jewelry, receiving minimal remittances, indicating money laundering. Dummy firms facilitated money inflow to the importer's bank account, which was then transferred to Hong Kong suppliers. Four individuals were arrested in India, and Hong Kong Customs arrested four more, freezing $1 million in assets. This collaborative effort underscores the effectiveness of international cooperation in combating financial crime.