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Trade Based Money Laundering
  • Overview
  • Objectives & Outline
  • Methodology
  • Participant Profile
  • Trainer
  • Overview
    Programme Details
    Date
    5 September 2023
    Time
    9:00 AM – 5:00 PM
    Venue
    Asian Banking School
    HRDC PROG NO
    10001279547
    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.
    Learning Level
    Intermediate
    Programme Fees*

    AICB MEMBER

    MYR

    1,700

    / PAX

    NON-MEMBER

    MYR

    2,000

    / PAX

    *Subject to 6% Service Tax

  • Objectives & Outline
    LEARNING OBJECTIVES
    By the end of the programme, participants will be able to:
    • Analyse the elements of an International Trade and TBML
    • Examine the TBML risks and its various typologies
    • Identify key skills to protect your clients from individuals and organisations seeking to commit trade based financial crime through the recognition/identification of red flags and understanding how to respond appropriately
    • Explain the principles of compliance risk and vulnerabilities with particular reference to Trade Finance and cross border transactions
    • Gain insight into current trends and digitalisation of trade with emerging technologies
    PROGRAMME OUTLINE

    Introduction to Trade

    • Parties to a Trade Transaction
    • Agreements Involving Trade and Trade Finance
    • Delivery of Goods
    • Payment for Goods


    What Is TBML in Relation to Money Laundering?

    • Understanding Money Laundering (ML), Terrorism Financing (TF) and Proliferation Financing (PF)
    • Trade principles & norms
    • What is TBML?
    • What goods are used for TBML?
    • TBML trends and developments


    Typologies, Detection and Mitigation

    • Risks associated with documentation
    • Risks associated with goods
    • Risks associated with actors
    • Risks associated with transport
    • Analyse how to spot ‘red flags’ typologies effectively


    Understand the different perspectives of those using the indicators

    • International and National Responses to TBML
    • United Nations
    • FATF
    • RBA to money laundering
    • Dual-use and sensitive goods
    • Export controls


    Financial Institutional Vulnerabilities and Responses

    • Risk Assessments
    • Customer Due Diligence (KYC & KYCC)
    • Sanctions Screening
    • Transaction Monitoring
    • Unusual transactions


    Digitalisation of Trade

    • TBML & technology
    • Data digitalisation
    • Distributed Ledger Technologies
  • Methodology
    Workshop, practical guidance, class activity & Kahoot
  • Participant Profile

    • Trade Finance staff
    • Credit staff
    • Compliance staff
    • Relationship officers

    Suited for all banks or non-banks

  • Trainer

    Aazad Ananthan

    Aazad Ananthan has 23 years of working experience in foreign banks including in Labuan offshore banks. During his tenure as a Trade Finance Manager at several banks in Labuan, he was responsible for overseeing the project to set up their Trade Finance Department and SWIFT payment system. Later, while heading the Compliance Department in these banks, he also managed the implementation of policy and procedures pertaining to the overall trade finance operations and compliance.
    Aazad holds a Bachelor of Jurisprudence (Law) from Universiti Malaya (UM), a Bachelor of Business Administration from Universiti Utara Malaysia and a Master of Commercial Law at University Malaya. He has an Advanced Certification in AML/CFT jointly awarded by the Asian Institute of Chartered Bankers and International Compliance Association in collaboration with the University of Manchester Business School; and Certified Integrity Officer (CeIO) qualification awarded by MACC Academy. Aazad specialises and delivers training in the subjects of anti-money laundering/counter-financing of terrorism, sanctions compliance, anti-bribery/corruption (ABC) and provides consultancy work related to AML/CFT policy and procedures for the financial industry. He is a Senior Consultant at the Asian Banking School and is also a HRDF certified trainer.

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