Trade Based Financial Crime Masterclass
International trade finance is a complicated product offered by financial institutions because banks visibility is limited to the documents only and the fact that there are multiple stakeholders involved in a single trade finance transaction adds further risk and complexity. Multi-millions trade transactions are conducted every year, supported by shipment of products through millions of vessels, trucks, and aircraft on annual basis, sometimes passing higher-risk jurisdictions, containing dual-use good or even prohibited items.
Why take this course?
This masterclass is focused on enhancing the knowledge and understanding of delegates on key financial crime risks within international trade finance through practical examples, group exercises, real-life case studies and end to end root cause analysis of key challenges faced by banks while offering trade finance services to their clients.
This masterclass will assist the participants in understanding global trade, its complexities and attractiveness to criminals, TBML typologies, warning signs, identification & assessment of financial crime risks and best practices.
- Trade Sales
- Trade Operations
- Relationship Managers
- Transactions Monitoring Specialists
- Compliance Officers
- Overview of financial crime in trade finance
- Key regulatory requirements & industry best practices
- Identifying Red Flags & warning signs
- Conducting through trade risk assessment
- Unwrapping key risks through real life case studies
Delegates of this masterclass shall be assessed through a multiple-choice test at the end of the training session. Upon successful completion of this masterclass, delegates will be awarded the Sigma Risk certification.
This masterclass may be delivered in person at client premises, at external location or virtually via Zoom or MS Teams.
Full Suite of Sigma Risk Masterclasses
• Understand applicable regulations
• Third party risk assessment
• Managing conflict of intrest
• Identify key AML risks
• Conduct AML risk assessment
• Build a robust methodology
- Correct level of due diligence
- Identification and verification
- Corroboration of source of wealth
- Learn about complexity & reliance
- Downstream banking and nesting
- Respondent risk assessment
- Preventing & recovering from a cyber attack
- Identify key threat actors
- Understand different types of cyber attacks
- Understand the risks in gaming
- Applicable regulatory requirements
- Proportionate risk assessment
• Understanding digital currencies
• Corroboration of SOF/SOW
• Financial crime risks
- Law enforcement collaboration
- Asset tracking and confiscation
- Suspicion activity reporting
- Recognize key sanctions regimes
- Establish screening & monitoring
- Escalations & reporting
- Attractiveness to Criminals
- Discover emerging typologies
- Identify red flags and warning signs
- Recognising key signs of terrorism funding
- Risk identification & mitigation techniques
- Learning from real-life case studies
Really liked the interaction, methodology and case studies utilised in this Masterclass. This training will help me to enhance that procedures I need to put in place for the Compliance department, but also for those applied by the Ops department which are designed by the Compliance department.