This training course introduces Combating Commercial Crimes Guidance in relation to Documentary Credit, Bills Collection, Guarantees, Stand-by Letter of Credit and Open Account “Latest Wolfsberg, ICC & BAFT Trade Finance Principles Paper”
. Elevate the knowledge of trade finance specialists in the area of identifying and minimizing the risks that they may be subject to, in respect of financial crime (money laundering).
. Helping and guiding AML and compliance officers to build up a good Risk Based Assessment plan for the trade finance and trade services activities within the bank.
. Trade Finance Principles Introduction Control Mechanisms • Customer Due Diligence • Name Screening • Activity Based Financial Sanctions
. Escalation Procedures • Introduction • Three Lines of Defense • Application
. AML guidance on the specific application of controls by Banks in the context of Documentary Credits (DCs), Bills for Collection (BCs), Guarantees and Standby Letters of Credit and open account trade. • Due Diligence • Review (risk indicators) • Screening
. Branches, head office and trade services staff.
.Certificate of Attendance