Trade Based Money Laundering and Trade Based Financial Crimes
Malaysian Export Academy (HRD Corp Registered Training Provider) Presents
Programme No.: 10001604437
| 9.00 am – 5.00 pm | Dorsett Grand Subang
[HRD Corp Claimable Course]
Objectives
Upon completion of this course, participants will:
- Know the definition, purpose, and scope of Trade Based Money Laundering (TBML) and Trade Based Financial Crimes (TBFC).
- Be aware of the reasons and intricacies of TBML and how they are perpetuated by fraudsters, including how these criminal proceeds are moved.
- Be more alert on the mechanics, methods, tactics, and modus operandi of TBML.
- Understand the 3 phases of TBML and the inherent red flags and warning signs.
- Know how to manage and ring-fence the risks associated with TBML.
- Learn what is Dual Use Goods or Products, Circular Trade and how Banks manage, control, and process them.
- Overview review and discussion on some recent real-life cases of TBFC and Commodity Financing Crimes.
Target Audience
This course is suitable for:
- Officers, Assistant Managers & Managers.
- Finance & Treasury, Business Development, Sales & Marketing personnel.
- Purchasing, Shipping, Risk Management, Audit and Compliance professionals.
Methodology
This course will be workshop based, comprising lectures, sharing of facilitator’s experiences, and class discussions on actual or real-life cases.
Program Outline
- Introduction to Trade Based Money Laundering (TBML)
- Difference between Money Laundering and TBML, perpetuators, intentions, and modus operandi.
- Trade Based Money Laundering Methods
- The 3 phases of TBML schemes to cover up criminal intentions and avoid detection.
- Illustration of how TBML proceeds are being moved and dispersed.
- Combating TBML & TBFC Risks
- Outlining SOPs, EDD, CPs & Regulations (AMLA, Anti-Terrorist financing, etc).
- Controls and due diligence to mitigate inherent risks and avoid being a conduit for crime.
- Mechanics of a Trade Based Money Laundering Transaction
- How transactions are perpetuated, how Banks are scammed, and movement of criminal proceeds.
- Real-Life TBML & TBFC Case Studies
- Discussion on why trade frauds happened and analysis of commodity financing crimes.
- Case references include: Hin Leong Trading, Agri trade International, Qingdao Metal Fraud, Glencore & Gunvor, Zenrock Commodities Fraud, ABG Shipyard Fraud, Punjab National Bank, Hontop Energy, ANZ Commodity Trading, and 1MDB Scandal.
- Dual Use Goods and Circular Trade
- Defining, identifying, and illustrating dual use goods/products and circular trade transactions.
- Bank concerns and risk controls.
Trainer’s Profile
PHUA POH SENG (JIMMY)
Jimmy has more than 35 years of practical Trade Finance and Services experience. He has held senior roles at major institutions including JP Morgan Chase, Deutsche Bank, EXIM Bank Malaysia, Alliance Bank, and OCBC Bank Malaysia.
He was a member of Bank Negara Malaysia’s New Trade Products Working Committees and the ICC Malaysia Banking Committee. He currently provides expertise in Conventional and Structured Trade Financing solutions for various corporates and SMEs.
Certificate of Participation
Participants will receive a Digital Certificate of Participation upon completing the course successfully.
Participation Fee
RM1,188.00 per person
Inclusive of Tea-breaks, Lunch, Course Notes, Certificate of Participation, and 8% SST.
HRD Corp Claimable Course (subject to approval).