A Guide on Financial Crime Prevention in Trade Finance

What is it that makes trade finance a particular target for criminals?

The very nature and complexity of trade finance transactions, and the huge volume of trade flows that exist, can hide financial crime transactions and help criminal organisations to transfer value across borders.

A Guide on Financial Crime Prevention in Trade Finance covers the various aspects of financial crime in relation to trade finance, and it outlines the various areas targeted for criminal activities in financial crime and the associated risks. Drawing on the experience of recognised experts in the trade finance sector, the report provides practical guidance on the specific financial crime risks in trade finance and it offers advice on the preventative measures that can be taken.

Key features include:

• In-depth guidance from experts at Dentons, the ICC, Reed Smith LLP and Sumitomo Mitsui Banking Corporation (SMBC)
• Advice on integrating compliance into successful trade finance
• A review of the specific risks and examples of fraud involving the use of trade and commodity finance
• Detailed guidance on the money laundering and terrorism financing activities that are attempted through trade finance, with advice on preventative measures against them
• An assessment of the impact and practical application of sanctions in trade finance, with guidance on what trade finance firms can do to protect themselves