Trade Based Money Laundering Allied Compliance Consultants (ACC)

Trade-based money laundering is an alternative remittance system that allows illegal organizations the opportunity to earn, move and store proceeds disguised as legitimate trade. Value can be moved through this process by false-invoicing, over-invoicing and under-invoicing commodities that are imported or exported around the world. Global trade is frequently used by criminal organizations to move value around the world through the complex and sometimes confusing documentation that is frequently associated with legitimate trade transactions. This method is also utilized extensively by Colombian drug cartels to repatriate drug proceeds commonly referred to as the Black Market Peso Exchange (BMPE). Underground banking, unlicensed money service businesses, hawalas, etc., have all utilized trade to move value as settlement of a debt arising from remittances overseas. These organizations can accomplish settlement by purchasing commodities in one country and then transferring them to another country where the commodity is sold and the proceeds remitted to the intended recipient.

The demands made by changes to Customer Due Diligence, Monitoring and Risk Management requirements add to pressures on firms to demonstrate compliance beyond doubt. This Master Class combines aspects of current and emerging Trade based Money Laundering & Trade based Terrorism Financing risks with case studies and examples in order to arrive at an integrated, practical program against which firms can benchmark their own approach. 

Learning Objectives: 

  • Awareness about Money Laundering, Reverse Money Laundering and Terrorism Financing Risks, 
  • Fighting Money, Laundering, Reverse Money Laundering and Terrorism Financing, Fraud & Corruption 
  • Learning the Anti-Money Laundering & Counter Terrorism Financing best practices 
  • Awareness about the latest Trade Based Money Laundering / Trade Based Terrorism Financing trends 
  • Getting acquainted with the Trade Based Money Laundering red flags
  •  Ensuring an effective Customer Acceptance policy (CAP) 
  • Implementing an effective Customer Identification Program (CIP)
  •  Implementing a Bullet proof KYC program 
  • Getting equipped to fight Trade Based Money Laundering / Trade Based Terrorism Financing and protect your organization

Allied Compliance Consultants “ACC” is an international professional services firm with Global Headquarters in Britain, MENA Headquarters in Dubai, presence in 25 countries and worldwide operations.

ACC has a team of highly skilled professionals who have gained their experiences through working in BIG FOUR International Audit Firms and the financial sector for many years. This firsthand knowledge benefits both the clients and candidates while having in depth discussions about their needs. It also enables our consultants to familiarize themselves easily and quickly in new organizations and implement real solutions based on the international best market practice.

Our team of professionals has extensive exposure diversified across the world and can provide all our valued clients with the best services, expert recommendation and quality trainings that help them stay compliant, protect their organizations from criminals, manage their risk and maintain proper corporate governance.

Our solutions are in accordance with the international best market practices and offered to you by experts in the field with International Experience that is available locally.

Our company’s strength is demonstrated by the cost effective quality services that we offer to financial institutions around the globe including many of the leading names in the industry. These organizations have been able through our services and solutions as a business partner, to effectively and efficiently ensure proper Compliance, maintain sound Corporate Governance, train their employees, manage their risk, implement Basel requirements, fight Money Laundering, fraud & financial crimes and preserve their reputation.

Allied Compliance Consultants is an ISO 9001:2008 certified company which demonstrates our quality and commitment to the best industry practices. We are proud to have 100% customer satisfaction rate.

ACC is the winner of the following Awards:

  • UAE – Full Service Business Consultancy of the Year” Award for ACC from Acquisition Finance for the ACQ Global Award 2015 (Second Year on the row)
  • UAE Consultant of the Year” Award for ACC Chairman & Managing Director from Acquisition Finance for the ACQ Global Award 2015 (Second Year on the row)
  • UAE – Full Service Business Consultancy of the Year” Award for ACC from Acquisition Finance for the ACQ Global Award 2014
  • UAE Consultant of the Year” Award for ACC Chairman & Managing Director from Acquisition Finance for the ACQ Global Award 2014
  • Leading Professional Services Firm – MEA & APAC” Award for ACC from Acquisition International for 2014 Mid-Year Review

ACC is ACAMS partner in the MEA & Asia Regions and is an authorized provider of the “Certified Anti-Money Laundering Specialist (CAMS)” preparation seminar.

See all Allied Compliance Consultants (ACC) courses

Fraud and Laundering Related Questions

Contact information not available.

Courses you can instantly connect with...
Fraud Investigation 'Becoming Skilled' eSquare Academia Certified Anti-Money Laundering Specialist (CAMS) TransformEd Risk Based Approach to Anti-Money Laundering (AML) Informa Middle East

Is this the right course for you?

Rate our content

Didn't find what you were looking for ?

or