More than 50,000 merchant ships are trading internationally, with over $18,494 billion of global export trade occurring each year. Unpredictable political developments, as well as developments in technology, communications, and trade corridors are all factors that lend themselves to potential risk.
- AML and Sanctions Compliance Program Review and Design – We help clients identify gaps in their financial crime compliance structure across their entire trade finance business, from product design, to client onboarding and final executions. We assess whether a client’s policies and procedures are informed by current best practice and meet the requirements of the relevant laws and regulations.
- Risk Assessment – We assist clients to undertake a risk assessment of their trade business from a financial crime compliance perspective. We bring together the expertise of trade finance experts and AML professionals to ensure that the assessment is sufficiently comprehensive.
- Know Your Customer & Know Your Client’s Customer – We advise on due diligence techniques to identify and fully understand all parties involved in a trade transaction, including their clients’ customers and suppliers, shipping companies, shipping agents, and associated banks.
- Transaction Monitoring Optimization – We evaluate scenarios and rules against the institution’s risk profile, industry practice and regulatory expectations. We develop efficient and cost-effective alert adjudication strategies that protect institutions more effectively than the straightforward disposition of standard AML red flags.
- AML Investigations and SAR Filing – We advise on effective and sustainable investigative processes, adaptable processes, and the ability to consistently identify underlying techniques in trade-based money laundering.
- Know Your Customer Remediations – We assist institutions with KYC remediation of their corporate and correspondent banking customers.
- Role Specific Training – We specialize in providing tailored, role specific training to trade finance professionals – not simply a customized version of standard AML courses.