FIU CONNECT (Trade-Based Money Laundering)
Course Type: Risk management
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The FIU CONNECT (Trade-Based Money Laundering) program from ManchesterCF examines the mechanics of traditional trade finance and supply chain finance products in international banking through detailed case studies, examples and red flags.
Financial institutions implementing a risk-based approach must roll out specific AML and ATF training programs for their traditional trade finance, international supply chain finance, correspondent banking and global payments businesses.
From documentary letters of credit and bills for collection to simple clean payments between counterparties, most financial institutions will be involved at some point in an international trade transaction.
This course offers tips on ways financial institutions can protect themselves when selling and processing trade finance products.
Financial intelligence units, law enforcement and the national security branch of government must offer current training in major financial crime risks and methods, including trade-based money laundering.
Course components include a digital textbook, computer-based training and an examination. These digital components can be hosted by ManchesterCF or via an institution’s learning management system.
All financial institutions that have implemented trade-based money laundering training from ManchesterCF have reported that suspicious transaction reporting has risen as a direct result of the training program.
Regulators are demanding increased attention to detail within a financial institution’s AML/ATF training. ManchesterCF’s solutions meet then exceed those expectations.
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