TBML (Trade Based Money Laundering) is still a relatively new threat in the fight against financial crime – and continues to prove very difficult to detect and prevent.
The difficulty in prevention is derived from the involvement of multiple parties and jurisdictions involved with international trade. This is why regulators have started to expand the onus on compliance to all those involved – not just the shippers, but the financial institution funding the trade too.
This webcast looks at how financial institutions’ different departments deal with the threat of TBML, focusing on:
- The evolution of sanctions compliance – why trade has come under the spotlight?
- Breaking down the silos – how can all departments involved, such as financial intelligence units, AML departments and compliance departments strive towards the same objective in preventing TBML?
- Screening transactions – how can screening cover all angles of the organisation, overcoming challenges around sanctions and export controls?
