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    Companies in several jurisdictions sanctioned by US for facilitating business with Iran

    by admin November 25, 2022

    Companies in several jurisdictions have been sanctioned by the US for facilitating the sale of hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum products to buyers in East Asia. This latest tranche of sanctions underlines the determination of the US treasury department’s…

    news, Trade Based Financial crimes News

    Inadequate due diligence and beneficial ownership transparency facilitating US$23 billion illegal fishing industry

    by admin November 16, 2022

    Lax supply chain due diligence and a lack of beneficial ownership transparency are amongst factors allowing one-fifth of the global fisheries market to be captured by operators involved in illegal, unreported, and unregulated (IUU) fishing, a new report from the Financial Transparency Coalition (FTC) and…

    news, Trade Based Financial crimes News

    Myanmar – but not Russia – joins Iran and North Korea on FATF black list

    by admin October 24, 2022

    Myanmar has joined Iran and North Korea on the Financial Action Task Force (FATF) list of high-risk jurisdictions subject to a call for action, better known as the FATF ‘black list’. Despite calls from Ukraine and elsewhere for Russia to be blacklisted, the FATF opted…

    news, Trade Based Financial crimes News

    Pakistan and, despite concerns, Nicaragua off FATF grey list

    by admin October 24, 2022

    Pakistan and Nicaragua have been removed from the Financial Action Task Force (FATF) ‘grey list’ of jurisdictions under increased monitoring according to a statement issued at the end of the global financial watchdog’s plenary meetings in Paris last week. Pakistan, which has been on the…

    news, Trade Based Financial crimes News

    International banks and auditors involved in US$700 million TBML scheme says Zambia’s financial intelligence unit

    by admin October 14, 2022

    International banks and audit firms were used by a company involved in an “aggressive profit shifting” trade-based money laundering (TBML) scheme to understate its taxable income and tax liability due to the Zambian government by over US$700 million according to a new study by Zambia’s…

    news, Trade Based Financial crimes News

    J P Morgan strategic alliance with Cleareye.ai to identify TBML and sanctions red flags

    by admin September 23, 2022

    J P Morgan has entered into a global strategic alliance with California-based artificial intelligence (AI) and machine learning (ML) platform Cleareye.ai to digitise trade finance due diligence processing. The alliance aims to identify trade-based money laundering (TBML) and sanctions red flags and significantly reduce false…

    news, top3, Trade Based Financial crimes News
    Money Laundering

    Supply chain visibility needed to see criminals using trade finance to launder money says ADB expert

    by admin September 21, 2022

    We need to be able to see deep inside supply chains to know whether criminals are using trade finance to launder money says head of trade and supply-chain finance at the Asian Development Bank (ADB), Steven Beck. Replacing paper trails with digital ledgers and QR…

    news, Trade Based Financial crimes News

    UK network the world’s biggest financial secrecy supplier says TJN

    by admin August 31, 2022

    UK overseas jurisdictions, collectively with the UK itself, make up the world’s biggest enabler of financial secrecy, according to analysis by the Tax Justice Network (TJN). While the UK overseas jurisdictions, some of which have a reputation for operating as offshore secrecy hubs, have reduced…

    news, Trade Based Financial crimes News

    Trade finance retaliation warning as concerns mount over Turkey’s deepening ties with Russia

    by admin August 10, 2022

    Trade finance for transactions with Turkey could be restricted amidst mounting alarm in western capitals over Ankara’s deepening ties with Moscow forged last week when Turkish President Recep Tayyip Erdogan met his Russian counterpart, Vladimir Putin. The leaders agreed to boost cooperation in trade and…

    news, Trade Based Financial crimes News

    TBML tops list of increased exposures to financial crimes by Australian financial institutions

    by admin July 11, 2022

    Australian financial institutions have reported increased exposure to trade-based money laundering (TBML) and supply chain corruption amongst various other financial crimes over the past 18-24 months according to the latest LexisNexis True Cost of Compliance Study – Australia. The firms also reported increased vulnerability to…

    news, Trade Based Financial crimes News
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    Latest news

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    Washington continues blitz on third-country entities linked to sanctions evasion
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    Australia focusing even more on TBML with new multi-agency taskforce
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    FATF updates guidance on beneficial ownership
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    Trade Based Financial Crime


    Trade Based Financial Crime

    This online training course provides you with the technical knowledge required to succeed within the trade finance compliance landscape.

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    Africa AML AML/CFT AML/FCT anti-money laundering Artificial intelligence Asia Bank Secrecy Act (BSA) beneficial ownership blockchain China Corporate Transparency Act counter financing of terrorism Data discrepancies economic sanctions European Commission FATF Financial Action Task Force (FATF) Financial crime compliance Financial Crimes Enforcement Network (FinCEN) FinCEN IFFs illegal wildlife trade Illicit financial flows letter of credit letter of credit money laundering Money laundering Office of Foreign Assets Control (OFAC) Pakistan report Russia Sanctions suspicious activity reports (SAR) suspicious transaction reports (STR) TBML terrorism financing trade-based financial crimes Trade-based money laundering (TBML) trade based money laundering Trade misinvoicing UK under-invoicing US USA US sanctions

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    Latest Articles

    • Washington continues blitz on third-country entities linked to sanctions evasion
    • Australia focusing even more on TBML with new multi-agency taskforce
    • FATF updates guidance on beneficial ownership
    • AfDB and CoDA launch US$5.9 million project to address financial crime, money laundering and tax avoidance
    • Stolen chicken-wings may be linked to organised IVTS and TBML schemes

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    Certificate in Trade Finance Compliance (CTFC) CTFC is the new industry certification designed to tackle trade finance based crimes across the globe.

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