Lesson 1 - An Introduction to Money Laundering
- Stages: Placement | Layering | Integration
- Effects of Money Laundering on business
- Trade-Based Money Laundering defined
Lesson 2 - An Introduction to Anti-Money Laundering
- Existing non trade related AML regime
- Trade-based AML regime - Institutional/substantive aspects of a trade-based AML regime
Lesson 3 - Combating Trade-Based Money Laundering
Risk based approach and Indicators
- Unusual transactions
- Significant deviations in business patterns
- Collusion
- Apparent front or shell company in transaction
- Geographical or jurisdictional concerns
- Transactions in high risk or high value goods
- Apparent inconsistencies in proposed transaction
- Trade structure concerns
- Letter of credit related concerns
- Suspicious actions
Lesson 4 - Common Techniques Used in Trade-Based Money Laundering
- Over and under invoicing
- Multiple invoicing
- Over and under shipment
- Phantom shipments
- False description of goods or services
- Bank responses to potential Trade-Based Money Laundering
15+ Case Studies
This section provides a number of case studies that illustrate the various ways that trade-based money laundering techniques can be used separately or in combination with other money laundering techniques to obscure the origins of illegal funds and complicate efforts to trace this money.
- FATF - Trade-Based Money Laundering
- FATF - Egmont Group, Trade-Based Money Laundering
- IFC Examples of TBML Techniques
- False Documentation and Under-Invoicing in Trade
- Industrial Components Exporter - Circular Payments
- Consumer Electronics Trader - Misrepresentation of Goods and Complex Shipping
- Luxury Electronics and Gemstones
- Phantom Goods - A Trade-Based Money Laundering Scheme Using Documentary Credits
4 Interactive crosswords based on course content.
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Additional Resources
This section provides a number of Resources
- Bibliography
- Lists of Red Flags
- Glossary of Terms
- Abbreviations related to Trade-Based Financial Crime
- Organisations involved in Preventing and Combating Trade-Based Financial Crime
