Trade-Based Money Laundering
Competent financial institutions and banking regulators around the world describe trade-based money laundering as one of the more effective methods of laundering the proceeds of crime or financing terrorism. By exploiting the complexities of international trade, criminal elements are able to transmit enormous amounts of value across borders with little prospect of interference by law enforcement or financial intelligence.
The most effective defence against trade-based money laundering is the development and implementation of a successful training program. Bank staff must be able to identify the patterns of possible trade-based money laundering activity in order to report their concerns up the chain of command.
ManchesterCF’s FIU CONNECT (Trade-Based Money Laundering) program has been implemented in a variety of international financial institutions and continues to evolve in accordance with market and regulatory developments.
Financial intelligence units are heavily dependent upon suspicious transaction or activity reports from international banks related to international trade. No automated system yields the same results as an alert and informed employee.
Seminars for this program are lead by professional instructors with extensive international banking experience.
The FIU CONNECT (Trade-Based Money Laundering) program can be implemented with the following components:
- Digital textbook
- Computer-based training (customisable and SCORM-compliant)
- Multiple languages