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
- 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.
- 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.