Association of Trade Finance Compliance Professionals Association of Trade Finance Compliance Professionals Association of Trade Finance Compliance Professionals
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    Whitepaper: ICC UK, Centre for Digital Trade and Innovation and Moneta go

    by admin January 17, 2023

    Shutting fraudsters out of trade Digital systems and the smart use of technology solutions present an enormous opportunity to shut fraudsters out of trade and deliver billions of dollars of real-world economic benefit at a national level and trillions of dollars internationally if we collaborate…

    news, Trade Based Financial crimes News

    NFTs are a new way of TBML says top Dutch financial crime investigator

    by admin May 16, 2022

    Non-fungible tokens (NFTs), the financial securities consisting of digital data stored in a blockchain, can be used in trade-based money laundering (TBML) operations according to Niels Obbink, chief and general director of the Fiscal Information and Investigation Service, the Dutch government agency responsible for investigating…

    news, Trade Based Financial crimes News

    IHS Markit and TradeSun partner to use data and AI to combat trade-based financial crime

    by admin February 28, 2022

    TradeSun, a trade finance platform that features artificial intelligence (AI) technology that augments human behaviour by learning how employees interact with trade finance documents, has partnered with maritime and trade information, analytics and solutions provider IHS Markit, to offer an integrated trade solution that enhances…

    news, Trade Based Financial crimes News

    Banks’ role in enabling graft under scrutiny after South African commission publishes part one of its state capture report

    by admin January 19, 2022

    South Africa’s banks are bracing themselves for further findings of the judicial commission of inquiry into allegations of state capture after the first part of its report recommended that authorities investigate Nedbank and its employees over their alleged roles in a corrupt contract. Nedbank strongly…

    Trade Based Financial crimes News

    Swiss commodity trade finance banks respond to major frauds and insolvencies in 2020 with recommended best practices guide

    by admin November 10, 2021

    Ten banks active in commodity trade finance (CTF) in Switzerland have responded to the slew of huge trade finance scandals that emerged in 2020 by producing a summary published by the Swiss Trading & Shipping Association (STSA) of recommended best practices for their CTF activity….

    Trade Based Financial crimes News

    Trade finance banks not doing enough to detect fraud and crime say UK regulators

    by admin September 13, 2021

    British regulators have written an unusually blunt letter to the CEOs of the UK’s largest banks ordering them to conduct a full financial crime risk assessment of their processes to detect money laundering, sanctions evasion, terrorist financing and fraud among their clients. The Bank of…

    Trade Based Financial crimes News
    Money Laundering

    Links to trade in luxury goods and TBML operators exposed in GFI’s report on real estate money laundering

    by admin August 18, 2021

    Yachts, private jets, horses, cars, jewellery, high-end watches and art are amongst the assets traded to enable kleptocrats, criminals, sanctions evaders and corrupt government officials to execute global money laundering schemes according to a new report published by Global Financial Integrity (GFI). The report focuses…

    news, Trade Based Financial crimes News

    Second major waste and recycled metal trade fraud of 2021 revealed

    by admin June 23, 2021

    Italian police have broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China according to the Reuters news agency. The report follows news that in 15 people…

    Trade Based Financial crimes News

    Komgo and Mitech announce collaboration to guard against fraud and facilitate L/C transactions

    by Mark Ford January 21, 2021

    Commodity trade finance blockchain platform Komgo and specialist trade finance fintech Mitech have announced a collaboration to allow users to create an immutable document to guard against fraud and falsification. The collaboration will also provide users with straight through processing of letters of credit (L/Cs)…

    news, Trade Based Financial crimes News

    Bank faces criticism as newly reported TBML case prompted by PNB fraud emerges

    by Mark Ford February 26, 2018

    India’s Bank of Baroda (BoB) has just reported a new trade-based money laundering (TBML) case to the Indian authorities, despite knowing about the fraud for some time. The bank reportedly approached investigation agencies only this month, apparently prompted by concerns that one of the alleged…

    Trade Based Financial crimes News
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    US treasury secretary announces international commitment to enhance beneficial ownership transparency
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    FinCEN publishes first guidance on beneficial ownership reporting requirements for businesses
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    UBS, Credit Suisse and US bankers under scrutiny for possible breaches of Russian sanctions
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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.

    More info

    Tags

    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

    Online Training

    • Supply Chain Finance
    • Sustainability in Trade and Trade Finance
    • Incoterms Online training
    • Trade Based Financial Crime
    • Introduction to Trade Finance
    • Going Global
    • UCP 600 Training
    • ISBP 745 Training
    • URC 522 Training
    • URDG 758 Training
    • ISP98 Training
    • URBPO 750 Online Training
    • ICC Opinions
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    Products

    • Supply Chain Finance
    • Sustainability in Trade and Trade Finance
    • Trade Based Financial Crimes
    • Going Global
    • ISBP Online
    • Trade Finance – ICC Digital Library
    • ICC Arbitration Online training

    Latest Articles

    • US treasury secretary announces international commitment to enhance beneficial ownership transparency
    • FinCEN publishes first guidance on beneficial ownership reporting requirements for businesses
    • 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

    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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