International trade is a particularly attractive means of moving illicit funds across borders without being detected, and recent years have seen regulators around the world place increasing pressure on financial services firms to improve their trade-based money laundering (TBML) systems and controls.  This course highlights the risks and shows how to apply best practice in order to comply with regulatory expectations.

This course is heavily based on true life case studies in order to provide delegates with the opportunity to discuss the complex issues involved with TBML, from over and under-invoicing, specific high-risk trade goods, to dealing with sanctioned countries and the problems recognising dual-use goods.  The workshop will provide a comprehensive summary of the money laundering risks in trade finance, including a thorough summary of the key red flags, as well as a guide to improving TBML systems and controls.  There is a specific emphasis on the importance of front line staff in recognising and reporting suspicious activity.

The course is case study based, enabling lots of opportunity for practice and sharing experience, the workshop will help firms assess their TBML risks and improve their employees? ability to recognise and report suspicious activity.


By attending this session you will:

  • Understand the offences of Money Laundering, Terrorist Financing and Proliferation Finance, and why they pose such a serious problem for financial institutions.
  • Be aware of the higher Compliance risks associated with trade finance.
  • Know the four main methodologies of trade-based money laundering.
  • Be familiar with common red flags to detect potential trade-based money laundering.
  • Discuss some common dual use goods.
  • Grasp the importance of conducting effective Customer Due Diligence.
  • Be aware of your role as the first line of defence in protecting your firm from being exploited by criminals.
  • Be aware of the legal duty to report suspicion and the penalties for failing to report.
  • Know the importance of filing a suspicious activity report (SAR).
Area of expertise:
Lee Byrne

Lee Byrne

Lee Byrne is a highly respected risk and compliance professional, with more than 30 years international operational and management experience covering...

Lee Byrne is a highly respected risk and compliance professional, with more than 30 years international operational and management experience covering sales and back-office roles.

During this time, he has held the position of Head of Compliance and Financial Crime and was approved as the CF11 Money Laundering Approved Person and Nominated Officer of a UK authorised bank. Other roles have included being the Data Controller, Quality Assurance Training Manager and Compliance Monitoring Manager of a UK retail banking branch network.

For the past four years he has been at the forefront of the design and delivery of financial crime risk management education and training and is widely regarded as being one of the foremost AML and CFT educators and learning facilitators. A recent highlight was to be selected by the world's largest trade finance bank to present trade-based money laundering training to representatives of the Monitor appointed by the US Department of Justice.

Lee has worked in a range of regulated sectors and markets, and this work has taken him to Hong Kong, Singapore, India, Indonesia, Mexico, Brazil, Russia, Europe and the Middle East, giving him helpful insights and knowledge of international regulations and best practices.

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This session will benefit individuals in all firms who are involved in, or responsible for, trade finance, including the MLRO, senior management, legal, and compliance.