TRADE-BASED FINANCIAL CRIME

The World Trade Organisation estimates that 80-90% of global trade is reliant on trade finance. Global trade finance, whilst helping to reduce counterparty risk, can provide opportunities for money launderers and terrorist financing. 

 

In any business transaction, there are risks but these risks are compounded when dealing internationally.  We can help financial institutions:

  • Analyse the vast amount of information, whether it is customer (importer/exporter) information, transaction based information or documentary based information such as Letters of Credit, Bill of Lading and Bill of Exchange.

  • Use the information to develop controls to better manage the AML and sanctions risks.

  • Monitor the bank’s compliance with its ‘Bank Payment Obligations’ pursuant to article 10(c) of the ICC URBBPO.