Part of the Global Trade Certificate (GTC)

Introduction to Trade Finance Compliance - eCourse

Get a high-level overview of the compliance obligations of financial institutions engaged in trade finance, including the “Know Your Customer” requirements

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LEARNING OBJECTIVES

By the end of this eCourse you will be able to:

Understand the role of regulatory bodies such as the Financial Action Task Force (FATF) the United Nations and The Bank for International Settlements.

Define what a "risk-based approach" means.

Define what Know Your Customer (KYC) requirements are and explain how they are applied to trade finance transactions.

Describe trade-based money laundering policies.

Explain the global implications of sanctions, embargoes, and NPWMD.

Explain the function of national and cross jurisdictional regulations.

Describe the elements of a 'risk-based approach' to financial crime compliance.

Identify the specific implications of KYC on the parties to trade finance transactions.

List and describe the “Three Lines of Defence” model for financial crime compliance.

Explain the levels of financial crime compliance transaction control and the implications of transaction review.

COURSE STRUCTURE & CURRICULUM

Access period

12 months

Duration

3 hours

Credits/CPDs

3 points

Parent Certificate

GTC

Lessons

Language

English

Lesson 1: Introduction

Lesson 2: Financial Crimes Risk

Lesson 3: Know Your Customer (KYC)

Lesson 4: Trade-Based Money Laundering

Lesson 5: Sanctions, Embargoes, and NPWMD

Lesson 6: Transaction Review and Monitoring

Lesson 7: Assessment

Who should take this course?

General practitioners working in banks, corporates, or financial institutions in functions such as relationship management, credit and compliance, but with an interest in trade finance.

COURSE AUTHOR

Dan Taylor

Principal, DLTaylor Consulting, LLC

Dan Taylor has forty years’ experience in the field of international banking and is currently Senior Advisor to the Executive Committee of the International Chamber of Commerce Banking Commission. From 1996 to 2014, he served as as Chairman of the Commission’s Executive Committee. During his 26-year involvement with the ICC Banking Commission, he served as Co-Chairman of the Bank Payment Obligation Working Group, was a member of the drafting groups for the last two revisions of the Uniform Customs and Practice for Documentary Credits (UCP 500 and UCP 600), and Co-Chairman of the ICC Working Group that created the supplement to the Uniform Customs and Practice for Documentary Credits for e-commerce (eUCP).