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    China’s central bank fines MYBank US$3.5 million for AML/CFT and other violations

    by admin February 14, 2022

    China’s MYBank has been handed a 22.4 million yuan (US$3.5 million) penalty by the People’s Bank of China (PBOC) for anti-money laundering and counter financing of terrorism (AML/CFT) and several other violations. The fine reflects the Chinese authorities’ increased focus on AML/CFT compliance since the…

    news, Trade Based Financial crimes News

    China publishes draft AML/CFT legislation to meet international standards

    by admin July 16, 2021

    China’s central bank has published revised draft legislation in its efforts to bring its anti-money laundering and counter financing of terrorism (AML/CFT) regulations up to international standards. As well as financial institutions, the proposed legislation would cover the activities of precious metal dealers, property developers…

    news, Trade Based Financial crimes News

    Hin Leong founder faces 105 new charges, 33 related to L/C usage

    by admin July 2, 2021

    The founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, is facing an additional 105 charges, 33 of which relate to letter of credit (L/C) usage, in connection with allegedly fraudulent schemes at his now-defunct trading house. The new charges will add yet…

    news, Trade Based Financial crimes News
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    UBS, Credit Suisse and US bankers under scrutiny for possible breaches of Russian sanctions
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    ABA calls on FinCEN to make changes to proposed beneficial ownership rule
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    Washington continues blitz on third-country entities linked to sanctions evasion
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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

    • UBS, Credit Suisse and US bankers under scrutiny for possible breaches of Russian sanctions
    • ABA calls on FinCEN to make changes to proposed beneficial ownership rule
    • 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

    Professional Qualifications

    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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