ICA Specialist Certificate in Trade Based Money Laundering

Why Attend

Trade-based money laundering is a highly effective way to launder the proceeds of crime or finance terrorism. By exploiting the complexities of international trade, criminals can transmit huge amounts of value across borders with little chance of detection. This course will enable you to compare and contrast the trade-based money laundering typologies such as variable pricing and goods. Gain an understanding of how financial crime risk can manifest and be mitigated in this huge global marketplace. This course is awarded in association with Alliance Manchester Business School, the University of Manchester.’

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Course Objectives


  • In addition to the essential concepts of AML and CTF, you will also cover the following areas:
  • International trade and receivables finance
  • Introduction to money laundering, terrorist financing and proliferation
  • International laws, regulations and industry guidance
  • Managing risk
  • Money laundering typologies
  • Terrorist financing, resourcing and sanctions
  • Further financial crime risk considerations


Target Audience


• Compliance, AML and financial crime officers
• Money laundering reporting officers
• Managers responsible for internal compliance controls
• Internal and external audit staff
• Company secretaries
• Legal practitioners and support staff
• Accountants

International Trade and Receivables Finance

  • Introduction to international trade
  • Trade finance products and services risks
  • Supply chain finance
  • Who are the parties to trade finance activity?

 

Introduction to Money Laundering, Terrorist Financing and Proliferation

  • Emerging financial crime trends and sources of illicit finance
  • Why is international trade finance attractive to criminals and terrorists?
  • What is money laundering?
  • What is meant by the term `terrorism’?
  • Terrorist finance and terrorist resources
  • Money laundering and terrorist financing

 

International Laws, Regulations and Industry Guidance

  • Financial Action Task Force
  • United Nations
  • Wolfsberg Group
  • International Chamber of Commerce
  • Financial Intelligence Units

 

Managing Risk

  • Risk-based approach
  • Risk Types
  • Customer due diligence (CDD)
  • Detecting and Identifying Criminal Conduct or Proceeds
  • Reporting suspicions
  • The importance of training
  • Case histories

 

Money Laundering Typologies

  • Variable Physical Goods
  • Variable pricing of goods
  • Black market peso exchange
  • Misuse of standby letters of credit/guarantees

 

Terrorist Financing, Resourcing and Sanctions

  • Introduction to terrorism
  • Terrorist financing
  • Terrorist resourcing
  • Proliferation and `dual use goods’
  • Sanctions

 

Further Financial Crime Risk Considerations

  • Offshore financial centres
  • Shell banks
  • International business corporations
  • Correspondent banking
  • Fraud
  • Smuggling
  • Transfer pricing
  • Capital flight
  • Foreign exchange
  • Free Trade Zones
  • Corruption

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