TBML : Is the War Against Trade-based Financial Crime Lost? 2022 | Regulation Asia | 23 March 2022 | Webinar

Bad actors will often strike when companies are in their most vulnerable state. And the COVID-19 pandemic has provided the perfect storm of opportunity for illicit funds to move through low-friction trade routes, obscuring illegal activities.

The problem of detecting and tackling trade-based money laundering has plagued financial institutions and law enforcement for decades. At the heart of criminal activity are sophisticated money launderers who take advantage of the size and complexity of international trade to transfer illicit proceeds between parties and evade authorities.

Though some money laundering risks can be easily mitigated, others are more complex, allowing bad actors to seamlessly move illicit funds through the formal financial system. They construct a network of highly complex trade processes that mingle legitimate with illicit funds, taking advantage of governance gaps across jurisdictions. These financial criminals are sophisticated and pose a serious threat to regional financial stability.

In this webinar, we will focus on the lessons learned on the frontline in this ongoing battle against bad actors. Our expert panel will also explore the unique challenges faced in detecting and investigating from gathering data, conducting due diligence, and inspecting documentation through to industry-specific pain points and emerging typologies.

The problem of detecting and tackling trade-based money laundering has plagued financial institutions and law enforcement for decades. At the heart of criminal activity are sophisticated money launderers who take advantage of the size and complexity of international trade to transfer illicit proceeds between parties and evade authorities.

Though some money laundering risks can be easily mitigated, others are more complex, allowing bad actors to seamlessly move illicit funds through the formal financial system. They construct a network of highly complex trade processes that mingle legitimate with illicit funds, taking advantage of governance gaps across jurisdictions. These financial criminals are sophisticated and pose a serious threat to regional financial stability.

In this webinar, we will focus on the lessons learned on the frontline in this ongoing battle against bad actors. Our expert panel will also explore the unique challenges faced in detecting and investigating from gathering data, conducting due diligence, and inspecting documentation through to industry-specific pain points and emerging typologies.

KEY THEMES:
• Trade-based financial crime: risk indicators and typologies
• Guarding against TBML and document fraud
• Mitigating exposures to sanctions
• PF risks, dual-use goods and trade controls
• Due diligence, corroboration and supply chain management
• Trade compliance controls: Digitising and automating due diligence processes

2022 Speakers

Brad Maclean
Co-founder & Moderator, Regulation Asia

Hermione Tay
Vice President, Financial Crime Compliance, Asia Trade Finance AML Advisory, MUFG Bank

Azeem Jamshed Azmi
Managing Director, Regional Head Trade Finance, Group Transaction Banking, CIMB Bank

David Zhuo
Market Planner, Financial Crime Compliance, LexisNexis Risk Solutions