AML, Sanctions and Fraud in Trade Finance
An interactive workshop aimed at providing an understanding of trade based money laundering, sanctions issues and fraudulent activity which might occur in international trade and commodity finance transactions.
The workshop will provide an introduction to trade finance, why trade finance is a target for abuse, regulatory expectations, due diligence, enhanced risk considerations on each of the most commonly used trade finance products, and the use of “red flags” to identify potentially suspicious trade transactions.
2 or 3 days
Who Should Attend?
Compliance officers, auditors, consultants, trade finance operations (middle and back office) and front line trade finance and relationship managers
- Introduction to trade finance
- Why is trade finance a target for abuse?
- Regulatory expectations in trade finance
- Trade cycle appreciation – seeing the bigger picture
- Identification of issues and implications for the following products:
- Pre-export financing
- Letters of credit
- The relationship with the correspondent bank
- Transferable letters of credit
- Synthetic letters of credit
- Invoice finance & factoring
- Standby letters of credit
- Commodity traders
- Warehouse financing
- Tolling transactions
- The use of letters of indemnity
- Credit insurance
- Fraud; warning signs
- Anti-money laundering; red flag indicators
- Sanction issues; red flag indicators