Key Details

Duration: 1 Day

Available: In-House only

Overview

Trade Based Money Laundering and Terrorist Financing is recognised as posing a serious risk to the Banking sector. A serious case of Trade Based Money Laundering and Terrorist Financing can reduce consumer and shareholder confidence and can impact the reputation of individual banks as well as potentially create challenging regulatory...

Trade Based Money Laundering and Terrorist Financing is recognised as posing a serious risk to the Banking sector. A serious case of Trade Based Money Laundering and Terrorist Financing can reduce consumer and shareholder confidence and can impact the reputation of individual banks as well as potentially create challenging regulatory intervention.

This course explains the nature of Trade Based Money Laundering and Terrorist Financing and is designed to assist AML/TF practitioners as well as those operational Trade Finance professionals with the issues of implementing appropriate policies, systems and controls to try to prevent and detect Trade Based Money Laundering and Terrorist Financing occurring. It also highlights ways of managing the Trade Based Money Laundering and Terrorist Financing  risks and discusses action that can be put in place when Trade Based Money Laundering and Terrorist Financing is discovered.

Case studies will be used during the session to provide practical hands on experience in developing Trade Based Money Laundering and Terrorist Financing prevention and detection practices.

What is Trade Based Money Laundering & Terrorist Financing?

  • The international dimension of Trade Based Money Laundering and Terrorist Financing
  • What is the Government and Regulatory expectation?
  • Examples of Trade Based Money Laundering and Terrorist Financing and good practice/poor practice
  • Where is there guidance available to assist?
  • What are the challenges to preventing, detecting and investigating Trade Based Money Laundering and errorist Financing?

Prevention

  • Trade Based Money Laundering & Terrorist Financing – a ‘risk assessment’ of products, geography, customers, segments
  • The role of Due Diligence in the TBML/TF process – who is the customer, KYCC, connected parties
  • Consideration of Money Laundering/Trade Finance in product development
  • Relationship of Trade Based Money Laundering and Terrorist Financing with Fraud

Detection and Investigation

  • Monitoring – red flags, “eye balling” of documents, automation (pre/post transaction)
  • Recording and Management of ‘suspicious activity’
  • Evidence gathering
  • Internal Investigations
  • Hotlines and whistle-blowing
  • Specific Case study

Policies and Procedures (systems and controls)

  • Roles and Responsibilities
  • Training and Awareness
  • Assurance/Governance

After attending this course, attendees will be able to:

  • Understand the International threats related to Trade Based Money Laundering and Terrorist Financing
  • Understand Government and Regulatory expectations in relation to Trade Based Money Laundering and Terrorist Financing
  • Identify and conduct a risk assessment related to Trade Based Money Laundering and Terrorist Financing
  • Identify practical prevention and detection techniques to Trade Based Money Laundering and Terrorist Financing
  • Consider and apply appropriate actions when Trade Based Money Laundering and Terrorist Financing does occur
  • Consider the appropriate policies, procedures (systems and controls) applicable to their organisation.