Association of Trade Finance Compliance Professionals Association of Trade Finance Compliance Professionals Association of Trade Finance Compliance Professionals
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    FinCEN issues first ever penalty for failing to comply with GTO order

    by admin April 13, 2022

    The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has for the first time ever fined a business in the Los Angeles Fashion District for failing to comply with a geographic targeting order (GTO). A&S World Trading, operating under the name Fine Fragrance (A&S), has…

    news, Trade Based Financial crimes News

    Crack down on TBML to battle the world’s kleptocrats says US senator

    by admin March 11, 2022

    Action to prevent or stem trade-based money laundering (TBML) needs to be better coordinated to battle the world’s kleptocrats according to a comprehensive plan devised by a leading US senator. Sheldon Whitehouse has launched his plan in the wake of Russia’s invasion of Ukraine, which…

    news, Trade Based Financial crimes News

    FinCEN seeks comments on modernisation of US AML/CFT regulatory regime

    by admin December 29, 2021

    The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has issued a request for information (RFI) seeking comments on ways to streamline, modernise and update the country’s anti-money laundering and counter financing of terrorism (AML/CFT) regime. As part of a formal review process, FinCEN says…

    news, Trade Based Financial crimes News

    Financial institutions’ critical role in combatting wildlife trafficking outlined in new FinCEN report

    by admin December 23, 2021

    The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has released a Financial Threat Analysis on wildlife trafficking threat patterns and trend information identified in Bank Secrecy Act (BSA) data. The report aims to further inform efforts to combat wildlife trafficking and the associated movement…

    news, Trade Based Financial crimes News
    Trade Based Money Laundering

    High risk of violating US law for banks and others that fail to exit Xinjiang supply chains, ventures and investments

    by admin July 28, 2021

    Financial institutions, businesses and individuals that do not exit supply chains, ventures and investments connected to the Chinese province of Xinjiang could run a high risk of violating US law according to an updated business advisory published by several US government departments. Banks come under…

    news, Trade Based Financial crimes News

    Draft reports, regulations and studies central to US trade-based financial crime compliance due from FinCEN before year end

    by admin July 19, 2021

    A report on trade-based money laundering (TBML), regulations regarding anti-money laundering and counter financing of terrorism (AML/CFT) requirements for the antiquities trade and a study on money laundering and the art trade are amongst 22 reports, regulations or studies to be published by the US…

    news, Trade Based Financial crimes News

    Trade-based financial crime a focus of FinCEN’s new AML/CFT Priorities

    by admin July 6, 2021

    The US treasury department’s Financial Crimes Enforcement Network (FinCEN) is mulling different measures to combat trade-based financial crime as it considers what are expected to be sweeping new US priorities in anti-money laundering and counter financing of terrorism (AML/CFT) compliance (Trade-based Financial Crime, 5 July…

    news, Trade Based Financial crimes News

    Banks should start preparing for new AML/CFT Priorities in BSA says FinCEN

    by admin July 5, 2021

    Financial institutions should begin preparing for changes to the Bank Secrecy Act (BSA) that respond to new US priorities in anti-money laundering and counter financing of terrorism (AML/CFT) compliance that are expected to be announced by the end of this year according to the US…

    news, Trade Based Financial crimes News

    FinCEN informs financial institutions of developments related to trade in antiquities and art

    by admin March 26, 2021

    The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has issued a notice to inform financial institutions of the latest developments to prevent money laundering and report suspicious activity related to trade in art and antiquities. The notice covers new measures in the Anti-Money Laundering…

    news, Trade Based Financial crimes News

    Inland Revenue Service division awarded for cracking complex US-Mexico TBML conspiracy

    by Mark Ford July 10, 2020

    The US treasury’s Financial Crimes Enforcement Network (FinCEN) has awarded the Internal Revenue Service-Criminal Investigation Division (IRS-CID)for its investigation into a transnational money laundering organisation operating in the US and Mexico through a complex trade-based money laundering (TBML) scheme. The division was one of seven…

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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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    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

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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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