Trade Based Money Laundering (TBML)

Our trade-based money laundering course trainer is a highly experienced banker with a 40-year-long successful career HSB.

Passionate about international trade financing, this trainer ensures good outcomes for both the bank and its customers. He has experience in many industry sectors including international businesses, debt syndication, acquisition finance, credit risk and debt recovery management. Redcliffe’s sanctions compliance course leader's principal specialism is trade and commodities financing. During his career, he was selected for several key roles involving complex problem identification, analysis and resolution, leading to reductions in risk and loss and improved processes and compliance.

For 36 years of his career, this trainer undertook a wide range of management roles in business commercial and corporate banking. Positions included working in Credit & Risk, but predominantly as a relationship manager with a portfolio of trade-intensive customers, including 10 years as a Senior Trade Corporate Banking Manager, based in the City of London. This position included responsibility for 20+ large trade-intensive relationships (import/export and commodities), where the turnover of the largest clients was c£6 billion. Our TBML course trainer was also responsible for credit risk management aspects and, during this time, began running courses, initially on the subject of trade finance credit. He spent his final seven years at HSBC as Senior Trade Portfolio Risk Manager in London. His roles there included:

• overseeing the UK commercial segment’s trade portfolio, monitoring general performance and quality assurance.
• providing expert advice to sales managers, credit officers and other stakeholders on debt structuring and the use of appropriate products.
• developing analytical and monitoring models to support increased facilities or to identify adverse trends.
• assisting corporate recovery managers in minimising potential losses due to debt exposure or from an operational perspective.
• delivering trade finance training courses to stakeholders (in debt structuring and products).

Before leaving HSBC he completed the Certificate in Trade Based Financial Crime Compliance issued by ICA / Manchester University Business School.

Since leaving HSBC he has been delivering sessions including our trade-based money laundering course, to a wide range of banks, finance houses and trading companies.

Our sanctions compliance training covers the following:

• Introduction to the key characteristics of Anti-Money Laundering compliance, Countering the Financing of Terrorism and Sanctions adherence.
• Extend understanding of the principles of compliance risk, with particular reference to Trade Finance and cross-border transactions.
• Gain an insight into current trends and issues in trade-based financial crime and the risks of non-compliance, using practical examples.
• Be more informed and therefore better equipped to understand their role and responsibilities and make considered risk decisions more quickly, based on a sound knowledge of financial crime risk management.
• Be better placed to protect clients from financial crime risks in their supply chains, thereby helping them to achieve sustainable growth.
• Have 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.
• Be able to view transactions holistically regarding AML, CFT, Sanctions and Compliance Risk.
• By the end of this TBML and sanctions compliance training course, you will have an overview of the role of correspondent banks and other financial institutions, and payment methods including SWIFT messaging.

• Our TBML training course leader has 40 years of first-hand practical trade finance experience with a major international bank, latterly overseeing all aspects of risk in their UK trade finance book.
• Training includes governance and compliance issues, relating them to the use of trade finance products, covering the major risk considerations.
• The varied case studies taken from the trainer’s personal experience are practical examples that will greatly assist in understanding this subject.
• The varied examples/case studies assist in identifying money laundering, terrorist financing and sanctions, as well as showing how risks can be mitigated.
• TBML and sanctions compliance training is a ‘must’ for any finance, legal or risk compliance team which has oversight of trade finance.

Whilst beginners are welcome, this trade-based money laundering course is based on the premise that attendees have a working knowledge and understanding of core trade finance products and international trade finance.

This course is a ‘must know’ for:

• Trade finance professionals looking to understand how:
  • core trade products and processes are used to facilitate money laundering, terrorist financing and sanctions breaches
  • to identify suspicious activity in trade transactions
  • to mitigate the trade finance money laundering, etc. risks
• Bank Officers, Compliance Managers, Risk Managers and Money Laundering Reporting Officers (MLROs) whose role includes oversight of aspects of trade finance/transactions, who wish to:
  • obtain a basic knowledge of trade finance, trade products and processes and understand how:
    • these products are used to facilitate money laundering, terrorist financing and sanctions breaches
    • to identify suspicious activity in trade transactions
    • to mitigate money laundering, etc. risks associated with trade finance
• Bank Relationship Managers whose portfolio includes international trading entities, who wish to enhance their knowledge and understanding of TBML in banking and CFT (Countering Financing of Terrorism) and Sanctions Breach risks in banking are also covered.

Redcliffe’s TBML & sanctions compliance course is a ‘nice to know’ for:

• Financial, Legal and Corporate compliance professionals seeking an understanding of trade-based money laundering, trade products and processes, how they are used to facilitate trade finance money laundering, terrorist financing and sanctions breaches and means of mitigating those risks, using practical examples.

Whilst trade finance is perceived to be low in credit risk, it has the potential to expose banks to high compliance risks. Reports from various regulators and agencies have identified that trade finance money laundering (usually referred to as trade-based money laundering) has become more widespread. Alongside anti-money laundering and terrorist financing risks, banks have had to consider identifying sanctions breaches in a rapidly changing environment.

Banks that have failed to implement adequate Trade Based Financial Crime Compliance programmes and training have incurred fines, and reputational damage. They have also faced the potential loss or suspension of their ability to operate in certain currency markets or jurisdictions.

This TBML course covers all aspects of Trade Based Financial Crime Compliance (including the regulatory framework) with particular regard to money laundering, terrorist financing and sanctions risks (principles and core products), Correspondent Banking, International Payments, Global Cash Management, their associated compliance risks and the suspicious money laundering/sanctions violation activity red flag indicators of each. The course builds on other AML training courses by providing practical examples from the trainer’s experience of money laundering in trade finance.

Through attending this course participants will be able to identify compliance risk features in core product areas and key aspects from an audit and compliance risk perspective.

TBML training uses a range of typologies, exercises and case studies to enable the participants to consider transactions and identify the key risk compliance features, areas of due diligence and further information required to make a risk-based assessment.