The nature and complexity of International Trade Finance make it an attractive medium for criminals. Since it is considered a relatively easy way to obscure the illegal movement of funds or transfer substantial value across borders, from a financial crime perspective, it is a high-risk activity. Regulators therefore expect firms that provide International Trade Finance services & products to implement adequate system and controls to effectively mitigate the compliance risk associated with Trade Finance.

Course Description & Duration

TBML Awareness and Prevention is a specialist course designed for senior management, trade finance supervisors/managers, trade-processing teams, compliance staff, internal audit staff and front-line staff wanting detailed knowledge and practical guidance on how to manage TBML risk effectively. The course covers a summary of the laws and regulations & industry guidance relating trade finance activities, financial crime risk in international trade finance operations, and the standards of control firms must put in place to demonstrate compliance and, more importantly, to prevent TBML.
This exercise-based course uses true life case studies/videos to share knowledge and highlight various TMBL typologies and other complex issues involved with TBML such as over and under-invoicing, dealing with sanctioned countries/individuals and the problems of recognising dual-use goods. It provides a good opportunity for practice and sharing experiences with an objective to enhance delegates’ ability to assess TBML risk and recognise TMBL red flags.
This course is typically offered as a full day workshop but can be run as a two-day event depending on client’s requirements.

Course Outline 

  • Introduction to Trade Finance and Overview of Trade Finance Products/Services.
  • Introduction to TBML, Terrorism Financing & Weapons of Mass Destruction (WMD).
  • Overview of International Laws, Regulations and Industry Guidance on TBML best practices.
  • TBML Typologies & TBML key obligations for regulated firmTrade Customers/Transactions Risk Assessments.
  • Trade Customers/Transactions Due Diligence checks (Letter of Credit, Documentary Credits, Guarantees & Open Account Transactions).
  • Sanctions, Embargoes, Dual-Use Goods Reviews and TBML Red Flags identifications.

Training Outcomes

By the end of the training, delegates will be able to:
  • Explain TBML, TF & WMD.
  • Discuss the laws & regulations relating to TBML and common TBML Typologies.
  • Discuss the appropriate processes for Trade Finance Customers/Transaction risk assessments and due diligence checks. List some common Dual-Use goods and other TBML Red Flags.
  • Discuss the appropriate procedures for sanction screening trade transactions & customers including third parties in the supply-chain. (Automated & Manual screening procedures).
  • The range of risks involved in trade finance.
  • Understand the controls and mitigants available.