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.
