Introduction 簡介
In recent global financial market development, banking trade finance facilities are being used to carry out money
laundering activities. Regulatory authorities have set up policies and regulations to combat these illegal activities.
Banking and insurance practitioners play a key role in the financial systems to control and avoid the risk of Trade
Based Money Laundering (TBML). The course is designed to introduce learners to the trade product features, latest
regulations and guidance, common red flags, trends and recommended risk mitigation controls and measures.
Programme Contents 課程大綱
Sample Reference Cases with TBML Risk Exposures and Consequence Management
• Unravelling an International Money Laundering Scheme Tied to Cyberfraud (Bahrain, FID)
• Dismantling International Illicit Finance Networks Through Mexico–U.S. Cooperation (Mexico and the United States, FIU-Mexico and FinCEN)
• Revealing the Many Facets of Cross-Border Money Laundering Scheme Through Diamond Trading (Israel, IMPA)
• Dissecting a Fake Export/Import Money Laundering Scheme (Korea, KoFIU)
Overview of Trade Products Features and Their
Vulnerabilities to TBML Risk Bank guarantees, Documentary collections, Financing under open account transactions, Forfaiting and risk participation, Import/export loans, Packing loans, Pre-shipment loans, Structured trade financing, Trust receipts, Warehouse financing, Import/export invoice discounting, Letter of credit (L/C) and Financing for transactions under L/Cs.
Highlights of Latest Regulations and Industry Guidance
Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Authorized Institutions) and Anti-Money
Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).
Common Red Flags in Handling Trade Finance
Transactions Customer Red Flags, Documentary Red Flags, Transaction Red Flags, Commodity Red Flags and Vulnerable Goods Red Flags.
Trends of TBML Typologies
Over-invoicing or Under-invoicing, Over-shipping or Shortshipping, Fictitious Trades, Use of Shell or Fictitious Companies, Multiple Invoicing of Goods and Services and Black Market Trades.
Recommended Risk Mitigating Measures, Controls and Best Practices
Trade Controls, CDD Procedures, Screening techniques, Expertise Training & Awareness, Assurance and Dual-use Goods.
Enrollment
- Enrollment of virtual CPD programmes can only be made through VTC’s Continuing & Professional Education website (https://cpe.vtc.edu.hk/en). The programme fees must be paid online by Credit Card (Visa / Master). Only enrollment with completed information and payment will be processed.
- Applicants should upload* a copy of your Hong Kong Identity (HKID) Card / Passport / Travel Document, or valid visa / entry permit for study issued by the Immigration Department of the Hong Kong Special Administrative Region (HKSAR) during the enrollment process for identity verification purpose. The uploaded image should only show your full name in both English and Chinese with your photo. Other personal information must be covered.
* File size shall be less than 4 MB. File format shall be in jpg, jpeg, pdf or png.
- All places are allocated on a first-come-first-served basis. Incomplete forms and forms received without payment will not be processed.
Notification of Class Commencement
Successful applicants will be notified of the class confirmation and relevant information by email at least 7 working days## before class commencement. Login information including Meeting ID and Passcode, and Student Login ID will be sent to students by email 3 working days## before class commencement. Please contact us at 2836 1906 if you do not receive the notification and/or login information 3 working days## before the class commencement.
## Working days (exclusive of Saturdays, Sundays and Public Holidays)
Applicants should ensure their digital devices be equipped with a video camera and connected to a stable network before enrolling the virtual CPD Programme.
Students are required to show themselves in front of the camera throughout the lesson, otherwise the CPD / CPT hours will be deducted.
Certificate
Students who have participated in PEAK’s CPD short courses via virtual classrooms and achieved an attendance rate of 80% or higher may download their certificates from PEAK’s website (www.peak.edu.hk) starting from the 6th working day upon completion of the respective courses. The certificates shall be downloaded within three months from the date of course completion.
Please note that students should choose to download their certificates from our website or have their certificates sent by ordinary post during the online application process. Once students have chosen the mail delivery option, they will not be able to download their certificates via online means. The certificates will be sent to their registered local correspondence address within 14 working days from the date of course completion. PEAK will not be responsible for any loss in mailing.
