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AML – Trade-Based Money Laundering

Course Overview

A programme that is designed to support risk and compliance professionals to identify and manage the financial crime risks, including trade-based money laundering, that relate to trade finance activity. 

Course Structure

  • Introduction to Trade Products and Services. 
  • Uniform Customs and Practice for Documentary Collections (UCP). 
  • Why trade is used by criminals.  
  • Trade Based Money Laundering. 
  • Trade Based Terrorist Financing. 
  • Trade-related Crimes – tax, sanctions, dual use goods and smuggling. 
  • Risk Based Approach to Managing Risks. 
  • Identifying the risks – jurisdiction, trade transaction/payment, customer, documentation and product. 
  • Case study – UAE. 
  • Making a report under POCA and Terrorism Act. 

Course Summary

Course Level
Specialist
Availability
Available Now
Delivery Formats
Online, Virtual or Face to Face

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Who Is This For?

  • Trade finance operators. 
  • Sanctions risk employees. 
  • All employees who contribute to the management of trade customer relationships and activities. 
  • Financial crime compliance professionals at all levels. 
  • SAR handlers and investigators. 
  • MLRO, DMLRO and the nominated officer. 
  • Compliance assurance and monitoring. 
  • Auditors. 

Learning Outcomes

How will I benefit from completing the programme?

  • Describe operational trade-related financial crime risks and how the sector is used to move value between international collusive criminal. 

  • List some specific trade-based money laundering typologies, such as the misrepresentation of value, quantity, and quality of goods, and how these are used to move illicit value from bribery, corruption, crime and terrorism. 

  • Outline the risks of sanctions evasion and dual use goods/ finance of proliferation. 

  • Use red flags to identify risks relating to the movement of illicit value through trade, the financing of terrorism, sanctions evasion, importing and exporting unlicensed dual-use goods and tax evasion.  

  • Demonstrate how to manage and mitigate financial crime risks related to trade-based activities. 

  • Analyse regulatory case enforcement action to identify what went wrong when managing trade-related risks. 

Topics Covered

What will I learn?

Overview of trade products and the importance of trade finance. 

Crime typologies – TBML, TBTF and Trade-related predicate offences 

Analysis of free trade zones. 

Case study – UAE. 

Misrepresentation of price, quantity, and quality. 

POCA 2002 

Terrorism Act 2000 

Money Laundering Regulations 2017 (as amended) 

Regulatory case enforcement studies: 

  • TBML 
  • TBTF 
  • Tax crimes 
  • Sanctions 
  • Dual use goods 

Unusual indicators and ‘red flags’ 

Reporting concerns 

Managing the conflict between UCP and POCA reporting. 

Record keeping.