The trainer is a leading trade finance practitioner and trainer with over 41 years’ of experience. He regularly provides training to banks globally on trade and receivables finance, risk mitigation, AML and sanctions compliance. He continues to work as a trade finance practitioner, consultant trade advisor, handles letters of credit for his corporate clients, structures and facilitates trade finance market solutions which ensures his training material is both relevant to today’s market and highly practical.
Typology – the use of over-inflated invoicing representing “management charges” to transfer illicit monies from an affiliate company
Typology – the co-mingling of legitimate cross border trade wired receipts with terrorist financing funds by a diaspora owned business
Exercise; Nostro, Vostro and Loro accounts
Exercise; due diligence and risk considerations
Typology; the use by a shell bank of its correspondent banking network to move criminally obtained money across jurisdictions to purchase high value tradable goods
Examples; direct, serial and cover methods
Exercise; completion of payment related SWIFT messages
Case study; the use of a corporate group cross border cash concentration arrangement to mask the illicit origination of funds from a subsidiary participant and the recirculation of illicit monies in a disguised manner for apparent trade purposes
Typologies; examples of misrepresentation of invoice value, multiple invoicing and false description of goods as a means to attempt to legitimise the movement of illicit monies via trade flows
Case study; the assessment of a potential money laundering cross border letter of credit transaction requiring delegates to identify key compliance risk issues and further information required to make a risk based assessment
Case study; delegates will be asked to identify unusual features of a letter of credit request and identify the red flag suspicious activity characteristics
Case study; the assessment of a transferable letter of credit transaction with suspicion of breaching international trade sanctions. The delegates will be required to identify any unusual features, to identify key compliance risk issues and further information required to make a risk based assessment
Case study; delegates will examine a transaction and identify the compliance risk aspects
Case study; purchase of an avalised bill of exchange. Delegates will be required to undertake due diligence and identify further information required to undertake a compliance risk based assessment of the transaction
Case study; purchase of a trade receivable. Delegates will be required to undertake due diligence and identify further information required to undertake a compliance risk based assessment of the transaction
Case study; delegates will consider a request to issue a letter of credit which is not in the ordinary course of business of the applicant and to identify the nature of the underlying transaction
Case study; delegates will be required to consider the course of action resulting from a suspicious claim under a standby LC and how the use of this product for money laundering can be reduced
Case study; the delegates will consider the compliance risk aspects of a request to issue a transferable letter of guarantee and the further information required to undertake due diligence. Upon the receipt of additional information the delegates will be required to identify any unusual features and consider the course of action
Typology; the use of commodity based pre-payments to disguise the movement of laundered funds
Case study; delegates will be required to construct a trade cycle timeline and determine how they can validate, control and manage a cotton commodity finance transaction through each stage of the cycle from a compliance risk perspective
Whilst trade and commodity finance is low in credit risk it exposes banks to high compliance risks and as such we have put together a trade based money laundering course to ensure regulations and banking due diligence are met.
Banks who have failed to have adequate AML and sanctions compliance programmes and training in place have incurred penal fines, reputational damage and faced the potential loss or suspension of their ability to operate in certain currency markets or jurisdictions.
This 3 day course for bank auditors, compliance officers and relationship managers provides an explanation of the operation of the methods of payment and financing used in international trade and commodity transactions and the nature of compliance risks associated with each.
The course covers Correspondent Banking, International Payments, Global Cash Management, Trade & Commodity Finance and the compliance risk profile, and the suspicious money laundering and sanctions violation activity red flag indicators of each. Analysis is provided of the key features, the attractiveness and vulnerability of each trade product or structure to criminal activity.
This course will enable the delegates to identify compliance risk zones in each of these product areas and key aspects from an audit and compliance risk perspective.
The course uses a range of typologies, exercises and case studies to enable the delegates to consider transactions and identify the key risk compliance features, areas of due diligence and further information required to make a risk based assessment.
What our clients are saying about the course
“Very nice presentation style of the speaker and practical case studies”
“Very well prepared slides, examples and presenter. Huge load of information of the most common trade products”
“Very detailed information of trade tools on banking operations, how these can be used for AML purposes”
“Perfect mix of products training and financial crime aspects”
“Case studies are very good and useful”
“Interesting case studies, interaction with the trainer and multinational participants”
“Very helpful and well-explained oversaw of the operational and compliance aspects of trade finance”