Trade Based Financial Crime Masterclass
International trade finance is a complicated product offered by financial institutions because banks only have visibility limited to the documents only and the fact that there are multiple stakeholders involved in a single trade finance transaction adding further risk and complexity. Multi-millions of transactions are conducted every year supported by shipment of products through millions of vessels, trucks, and aircraft on annual basis, sometime passing higher risk jurisdictions, containing dual-use good or even prohibited items.
Why take this course
This masterclass is focused at enhancing the knowledge and understanding of delegates on key financial crime risks within correspondent banking through practical examples, real life case studies and end to end root cause analysis of key challenges faces by banks while offering correspondent banking services to their clients.
This masterclass will assist the participants to understand global trade, its complexities and attractiveness to criminals, TBML typologies, warning signs, identification & assessment of financial crime risks and best practices.
- Compliance Officers
- Relationship Managers
- Correspondent Banking Operations
- Transactions Monitoring Specialists
- Client Intelligent Unit
- Overview of correspondent banking
- Key regulatory requirements & industry best practices
- Jurisdictional (Market) risk assessment
- FATF principals & Wolfsberg Guidance
- Respondent Due Diligence
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 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
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.