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
- Enrolments of virtual CPD programmes can only be made online through VTC’s Continuing & Professional Education website (https://cpe.vtc.edu.hk/en). Applicants may pay the programme fee by Credit Card (Visa / Master) in the online enrolment system. Only enrolment with completed information and payment will be processed.
- Applicants should upload* the 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) for enrollment. Please show your full name both in English and Chinese and your photo only. 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.
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. Students will receive an email from PEAK with virtual class link and student login ID 3 working days## before class commencement. Please contact us at 2836 1906 if you do not receive the notification 3 working days## before the class commencement.
## Working days (exclusive of Saturdays, Sundays and Public Holidays)
For virtual CPD programmes, applicants MUST prepare camera or web cam with stable network connection.
During the class, student must keep the camera on, and stay in front of the camera, otherwise the CPD / CPT hours will be deducted.
