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    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

    South Africa’s understanding of trade-based financial crime limited says FATF

    by admin October 13, 2021

    South Africa has been given 18 months by the Financial Action Task Force (FATF) to improve its capacity to track and prosecute money laundering and terrorist financing or face being including on the so-called FATF grey-list. The Mutual Evaluation Report of South Africa published this…

    news, Trade Based Financial crimes News

    Mbeki continues campaign against trade-based financial crime, calls on ALSF to focus more on IFFs

    by admin October 1, 2021

    “The African Legal Support Facility (ALSF) must assist African countries to negotiate fair and balanced contracts to eliminate opportunities for illicit receipt, use, or transfer of funds,” says former president of South Africa and current chair of the African Union’s High-level Panel on Illicit Financial…

    Trade Based Financial crimes News

    Fight against corruption and IFFs key plank in South Africa’s economic recovery plan

    by Mark Ford December 9, 2020

    South African President Cyril Ramaphosa has said his government is intensifying its fight against corruption and illicit financial flows (IFFs) as an integral part of its plans to revive the country’s economy in the wake of the coronavirus pandemic.  In an address outlining the country’s…

    Trade Based Financial crimes News

    South Africa loses US$300 billion through capital flight, over-invoicing and under-invoicing

    by Mark Ford October 16, 2020

    An institute based at the University of Massachusetts has published a paper examining mechanisms, actors, enablers, and the institutional environment that facilitate capital flight from South Africa and the resulting accumulation of private wealth in offshore financial centres. The paper published by the Political Economy…

    Trade Based Financial crimes News

    South African working group reports progress in tackling trade-based financial crime

    by Mark Ford May 4, 2020

    The South African government’s illicit financial flows Inter-Agency Working Group (IAWG) has told a parliamentary committee that in 2018 and 2019 it has managed to conclude two cases and recover 400 million rand (R400 million – US$22.7 million) in illicit financial flows (IFFs). The IAWG…

    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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    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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