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    Bankers say UK exposure to TBML threats will increase post-Brexit

    by admin August 4, 2021

    Trade-based money laundering (TBML) empowers criminals to run free post-Brexit is the title of a new report that concludes that the UK’s vulnerability to TBML will increase as it increasingly focuses on trade with developing countries. Based on interviews with senior TBML experts at large…

    news, Trade Based Financial crimes News

    Art traders likely to become obliged entities in UK’s AML/CFT money laundering act

    by admin August 2, 2021

    Art market participants, including freeport operators that store works of art, are likely to become obliged entities in the UK’s key piece of anti-money laundering and counter financing of terrorism (AML/CFT) legislation, the Money Laundering Regulations 2017 (MLRs). The UK has published a consultation paper…

    news, Trade Based Financial crimes News

    UK follows EU suit to name 21 high-risk countries matching FATF list

    by admin April 14, 2021

    The UK has named 21 high-risk countries in the first anti-money laundering and combatting the financing of terrorism (AML/CFT) regulations framed by the country since Brexit when it withdrew from the EU. The new regulations naming the high-risk countries, which mirror the list of countries…

    news, Trade Based Financial crimes News

    TBML concerns over FTZs if the UK leaves the EU without a deal

    by Mark Ford September 18, 2019

    Concerns are emerging about the British government’s plans to reintroduce free trade zones (FTZs) if the UK leaves the European Union (EU) without a deal. A ‘no-deal Brexit’ would leave the UK with the task of negotiating a raft of new customs agreements and FTZs…

    news, Trade Based Financial crimes News

    Customs and intelligence uncertainty in chaotic Brexit an opportunity for money launderers

    by Mark Ford February 13, 2019

    A chaotic exit of the UK from the European Union (EU) would provide the perfect opportunity for money launderers to take full advantage of uncertainty shrouding customs arrangements and intelligence-sharing agreements according to a specialist in financial crime. Chief Operating Officer of Quantexa, Imam Hoque,…

    news, Trade Based Financial crimes News

    Increased TBML threat when Britain leaves European Union

    by Mark Ford May 16, 2018

    Britain leaving the European Union (EU) will heighten the risk of UK firms becoming involved in trade-based money laundering (TBML) according the agency that leads the country’s fight against serious and organised crime. However, the National Crime Agency (NCA) says the impact of Britain leaving…

    news, Trade Based Financial crimes News

    Latin America to witness more TBML as illicit gold trade flourishes

    by Mark Ford January 18, 2017

    Trade-based money laundering (TBML) is likely to become more prevalent in Latin America where a criminal boom in 2016 has made sales of illegally mined gold potentially more lucrative than the region’s cocaine trade. There are two drivers of the region’s illicit gold rush: higher…

    news, Trade Based Financial crimes News
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    Diamond traders and Wagner official with gold trade links sanctioned
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    Bancrédito fined as US sets sights on offshore lenders
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    Capgemini eyes growing market for financial crime compliance with Exiger acquisition
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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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    Tags

    Africa AML AML/CFT AML/FCT anti-money laundering Artificial intelligence Asia 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 Hong Kong IFFs illegal wildlife trade Illicit financial flows letter of credit letter of credit money laundering Money laundering OECD Office of Foreign Assets Control (OFAC) Pakistan 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 US sanctions US Treasury Department

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    Latest Articles

    • Diamond traders and Wagner official with gold trade links sanctioned
    • Bancrédito fined as US sets sights on offshore lenders
    • Capgemini eyes growing market for financial crime compliance with Exiger acquisition
    • Europol report focuses on TBML and examines contexts of financial and economic crime
    • AML/CFT regulations, compliance and geopolitical volatility widen trade finance gap to record size

    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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    • ATFCP Contact @ Coastline Solutions
    • Tel:  + 353 1 2352166
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