Tue Dec 4 +08 (about 3 years ago)
In your timezone (EST): Mon Dec 3 7:00pm - Tue Dec 4 4:00am
230 Victoria Street, Level 10, Bugis Junction Office Tower, Singapore 188024
A deep dive training on trade based money laundering (TBML) using the framework from the recently published ACIP* white paper titled, Best Practices for Countering Trade Based Money Laundering.
The paper provides recommendations on best practices and controls that may be implemented by a bank to combat TBML through documentary trade and high-level guidance on controls for open account trades.
*The Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership (“ACIP”) is a joint government-industry partnership initiated by the Monetary Authority of Singapore (MAS) and the Commercial Affairs department (CAD) of the Singapore Police Force. It brings together the financial sector, regulators, law enforcement agencies and other government entities to collaboratively identify, assess and mitigate key and emerging money laundering and terrorism financing risks facing Singapore.
At the end of the workshop, attendees will:
• Apply practical guidance to manage and control TBML
• Understand key considerations in identifying TBML red flags
• Identify roles and responsibilities of the three lines of defense
• Learn industry best practices and controls related to governance and management oversight, due diligence policies and procedures, transaction surveillance, suspicious transaction reporting, training recommendations, and record keeping requirements
• Get current approach to handling open account trade transactions
Who Should Attend?
Those involved in transaction banking – product, sales/FI/coverage/relationship, operations, compliance personnel, providers, regulators, and others in the industry who deal with or need to know about AML, TBML and other aspects of financial crime.
Stacey A. Facter
Senior Vice President – Trade Products, BAFT
Partner / Executive Director, Deloitte Forensic