- An understanding of the impact of compliance regulations on trade
- Ways to meet requirements imposed by regulations
- A detailed introduction to trade and trade products and how international trade finance works.
- An understanding of the various sources that comprise various financial crime compliance regimes, including governments, inter-governmental bodies, non-governmental bodies.
- Examination of the difficulty of operating in two or more distinct and conflicting regimes.
- Best practices for exercising due diligence in trade transactions.
- In-depth discussion of the specific types of trade based financial crimes and how financial institutions can identify and prevent their occurrence, specifically: money laundering, terrorism financing, sanctions violations, proliferation of weapons of mass destruction, bribery, commercial fraud, and violation of anti-boycott provisions.
- How to create a compliance programme that bridges the work of trade operations personnel as well as the risk and compliance team, along with upper management.
Trade Based Financial Crime Compliance
Part I: Trade Based Financial Crime Compliance
Chapter 1: Introduction to Trade Based Financial Crime Compliance
Chapter 2: Trade
Chapter 3: Financial Crime Regulation
Chapter 4: The Compliance Programme
Chapter 5: Exercising Due Diligence
Chapter 6: Indicators of Trade Based Financial Crimes
Part II: Combating Financial Crimes
Chapter 7: Anti Money Laundering (AML)
Chapter 8: Countering the Financing of Terrorism
Chapter 9: Sanctions
Chapter 10: Weapons of Mass Destruction
Chapter 11: Anti Bribery and Anti Corruption
Chapter 12: Commercial Fraud
Chapter 13: Anti Boycott
This book was written, in part, to serve as the learning materials for the Certification in Trade Finance Compliance (CTFC), a certification administered by the London Institute of Banking & Finance (LIBF) designed to educate and test the knowledge of practitioners and ensure that they possess the tools necessary to combat trade based financial crimes and meet the requirements imposed by law, regulation, and bank policy.
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