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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

    Whitepaper: Sanctions advisories for the maritime industry

    by admin March 23, 2022

    Practical challenges and recommendations for financial institutions regarding the monitoring of AIS outages and suspicious vessel activity. Executive summary

    Trade Based Financial crimes News

    Illicit cryptocurrency transaction activity reaches all-time high in value, all-time low in share of all cryptocurrency activity

    by admin January 21, 2022

    Cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving US$14 billion over the course of the year, up from US$7.8 billion in 2020 according to blockchain analysis firm Chainalysis. Evidence suggests that cryptocurrencies have been and will be used in trade-based…

    news, Trade Based Financial crimes News

    Mashreqbank agrees US$100 million settlement for Sudanese sanctions violations

    by admin November 26, 2021

    Dubai-based Mashreqbank’s agreement to pay US$100 million in penalties for its deliberate omission of payment transactions with ties to Sudan in violation of US sanctions against the African country may serve as a warning to banks with US operations to diligently monitor their correspondent networks….

    Trade Based Financial crimes News

    Romanian bank and US parent settle with OFAC for trade finance sanctions violations

    by admin September 8, 2021

    Romania’s First Bank and its parent company, US investment firm J C Flowers, have entered into a US$862,318 settlement with the US treasury department’s Office of Foreign Assets Control (OFAC) for apparent violations of the Iran and Syria sanctions programmes. The bank, which provides letters…

    Trade Based Financial crimes News

    OFAC sanctions Paraguay-based individuals and entities in multi-million dollar global TBML network

    by admin September 1, 2021

    The US treasury department’s Office of Foreign Assets Control (OFAC) has designated three Paraguayan individuals and five associated entities to the Specially Designated Nationals (SDNs) list. Their assets in US are blocked and US persons are generally prohibited from dealing with them. The sanctioned individuals…

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

    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 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
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    • Incoterms Online training
    • Trade Based Financial Crime
    • Introduction to Trade Finance
    • Going Global
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    • ISBP 745 Training
    • URC 522 Training
    • URDG 758 Training
    • ISP98 Training
    • URBPO 750 Online Training
    • ICC Opinions
    • DC Insight
    • ICC Court of Arbitration

    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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