Trade Based Money Laundering

Trade-Based Money Laundering(TBML), in all its diverse forms, is the largest money-laundering methodology across the globe now. It is also the least acknowledged, understood and acted upon laundering methodology. Inadequate capabilities, skill and resources of banking, customs, tax, and legal authorities to identify and investigate fraudulent transactions are further facilitating TBML. This course aims to develop a better understanding for the stakeholders on how to identify, mitigate and combat trade base money laundering. The course covers TBML concepts and benefits which can be achieved by implementing customer due diligence such as know your customer procedures and transaction monitoring processes. In this course, we shall endeavour to describe how illicit financial flows are integrated into the formal financial system in the guise of trade. The course covers in detail the concept of, Its Procedure and Mechanism with case examples. TBML Typologies, Red Flags and Countermeasures are also discussed at length. The role and responsibilities of Financial Action Task Force ( FATF), Policymakers, Law enforcement and bankers, Sanctions imposed by the Office of Foreign asset Control/European Union/United Nations (OFAC/EU/UN) on various entities and effectiveness of all these measures are vividly covered. The course concludes with the. future outlook and preparedness are required on the part of various stakeholders to tackle this growing menace of TBML.

• The learners will gain an understanding of Money Laundering using Trade.
• The learners will gain deeper insights into the Typologies, Red flags, countermeasures and regulatory framework with regard to TBML.
• Appropriate guidance on different Methods of trade settlement
• The Role of prominent Regulatory Agencies like FATF has been discussed.
• The Learners will understand the role of Banks in the identification and mitigation of TBML
• The learners will assimilate the importance of technology and a comprehensive approach to future preparedness required to counter TBML.