Trade Based Anti Money Laundering AML Framework

Money Laundering ML is one of the biggest challenges faced by Institutions/organizations, especially financial institutions, around the world. Millions of dollars are spent annually by institutions/organizations to identify and manage money laundering risks including trade-based money laundering TBML.

What is Trade-based money laundering (TBML)

TBML is a criminal activity. It is the process of disguising the proceeds of crime and moving value or money using trade transactions to legitimize their illicit origins. To manage the Trade-Based Money Laundering Risks, and Activities, and ensure Regulatory Compliance, the institutions/organizations hire dedicated Trade AML Compliance Officers/Specialists.

ABOUT THE COURSE

In this 'Trade-Based Anti-Money Laundering Framework' course, you will learn core concepts and principles of Trade-Based Money Laundering TBML and related AML/CFT Compliance Requirements. You will learn concepts through multiple examples and see how a financial institution manages its Trade-Based Money Laundering TBML Risks. This course will help you understand the key regulatory compliance requirements related to TBAML.

TOPICS COVERED IN THIS COURSE

In this course, you will learn;

• Money Laundering ML, ML Risks, Purpose of ML

• Why are Anti-Money Laundering AML Measures Important for a Country's Financial System

• Example - ML - Trade Transaction between 2 Companies to Support Criminals

• Example - ML - Exchange of High-Value Item against Illegal Product to Support Criminal

• Core Risks in the 'International Trade System'

  
  

  Trade-Based Money Laundering TBAML

• Understanding Trade-Based Money Laundering TBAML

• Different Types of Trade Transactions and things Money Launderers Do, In TBML Transactions

  
  

  TBAML Examples

• TBAML Example - TBML transactions

• TBAML Example - 'Under or Over' Invoicing, Tax Avoidance by Group

• TBAML Example  - Criminal Trade Transaction

• TBAML Example - ML through over-invoicing Imports and Exports

• TBAML Example - Suspicious Imports By the Owner of a Company - Misrepresentation of Quantities and Money Laundering - Imports/Exports

• Methods Used by Money Launderers in Trade Transactions

  
  

  Risk Management - TBAML

• Risk Management Framework for TBML 

• Roles and responsibilities of the Board of Directors and Senior Management

• Policies and procedures, to deal with Trade-Based Money Laundering TBML activities and Implement, Trade-Based Anti-Money Laundering TBAML Requirements

  
  

  Understanding Concepts of Customer Due Diligence CDD and KYC

• Understanding Customer Due Diligence CDD Concept

• Example 1 - Normal Case - CDD of a Corporate Client

• Example 2 - Suspicious Case - CDD of a Corporate Client

• Understanding Know Your Customer KYC Concept

  
  

  Customer Due Diligence CDD and KYC Measures in TBAML

• Trade Customer's Due Diligence and Risk Profiling CRP Requirements

• Screening measures (KYC/CDD perspective)

• EDD measures

• TBML Suspicious Transactions Reporting

• Key Considerations in Preparing Suspicious Transactions Reports SARs

  
  

  Database Management

• Trade-Based Money Laundering TBML Database.

  
  

  Trade-Based Money Laundering TBML Red Flags and Risk Indicators

• Trade-Based Money Laundering TBML Red Flags or Risk Indicators

• TBML Structural  Money Laundering Risk Indicators

• TBML Document Money Laundering Risk Indicators

• Roles of the Trade-Based Money Laundering Reporting Officer (TBMLRO)

• Internal Reporting by MLRO

• Challenges Faced with Control of Trade-Based Money Laundering

Case Study - TBML Alerts, Reviews, EDD, Investigation, and Reporting

Detailed case study on 'TBML and Countering TBML Activity', is included as part of this course.

In this case study, different Roles are discussed in detail, including AML Analyst, MLRO, RM, LEA, Dealer, etc.

• You will learn how an AML Analyst practically works and performs the 'Review of AML Alerts' generated by the 'Transaction Monitoring System TMS'. You will learn 'How AML Alerts are identified in the TMS', 'reviewed', and 'reported to the MLRO'.

• You will learn how a TMS Report is prepared and look like, used for EDD/Investigation by MLRO. 

• You will also learn how MLRO performs reviews and investigations of the 'AML Alert' or 'TMS Report', explores options to gather evidence, and involves stakeholders for fact finding and AML decisions. 

• Quiz MCQs are also part of this course to test your knowledge gained in this course.

Why This Course:

Some of the core benefits of attending this course or certification include:

• If you want to work in the Compliance Function, Risk Management Function, Anti-Financial Crime Department. or Anti-Trade-Based Money Laundering Department, then this course will help you understand the work requirements.

• After attending this course, you will get a certificate of course completion, which shall enhance your job profile

• Get lifetime access and a certificate of completion of this course

How Will You Benefit Through This Course?

This course will help you in your job if you are doing a job in a company or institution, as:

• Compliance Professionals, Compliance Managers, Compliance Risk Managers, and Compliance Analysts,

• Money Laundering Reporting Officer MLROs, AML/CFT Analysts, CDD/KYC Analysts,

• Deputy Money Laundering Reporting Officer D-MLRO,

• Trade-Based Money Laundering TBML Heads and Analysts - TBAML Analysts,

• Trade Operations / Branch Operations/ Account Opening Managers,

• Internal Controls Specialist, Internal Auditors,

• Compliance Quality Assurance and Risk Reviewers, etc.

Thank you.