Trade is an attractive way to launder the proceeds of crime or evade sanctions due to several of its fundamental features; its international and cross-border nature, the involvement of multiple parties in a typical trade transaction.

Trade Based Money Laundering (TBML) can be complex, involving many parties, with actors employing a variety of schemes in an attempt to circumvent laws, regulations, systems and controls to ensure their scheme is successful. This one-day programme provides a high-level overview of TBML, outlining what it is, how it can occur, different roles within the trade cycle, financial services products that assist trading, and steps that can be achieved in identifying and mitigating TBML. It is designed for those in banks or non-banks who wish to gain a better insight into how illicit funds, goods or services can be moved through trade flows.

This session will also provide training on the international trade based financial crime compliance scene, how to combat financial crime in trade, and will precisely focus on 'trade-based compliance' with regard to ML/TF.