The complexity and global reach of international trade make International Trade Finance (ITF) services attractive to criminals and difficult to protect from financial crime. Trade-based money laundering (TBML) is considered the second most frequently used method by professional money launderers. ITF service providers have reporting obligations related to money laundering and must, therefore, have adequate systems and controls in place to detect and prevent TBML. This course is designed to help ITF operational teams and managers refresh and expand their knowledge and skills to effectively detect, deter, and prevent TBML
What will you learn?
- Overview of laws, regulations, and industry guidance on TBML.
- TBFC typologies/red flags with focus on the sub-region.
- Trade Customers/Transactions Risk Assessments and Due Diligence checks (Letter of Credit, Documentary Credits, Guarantees and Open Account Transactions).
- Sanctions, embargoes, Dual-Use Goods Reviews, and TBML Red Flags identification.
Who is this course for?
This is a specialist course designed for trade finance professionals at all stages; supervisors. managers, trade finance processing teams, compliance staff, internal audit staff, and frontline staff in need of detailed knowledge and practical guidance to mitigate TBML risk effectively.