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Trade Based Financial Crime
Trade-based financial crimes (TBFC) cover a wide range of illicit activities that exploit the global trade system for unlawful and illegal purposes. Foremost of these are trade-based money laundering (TBML) and trade-based terrorist financing (TBTF). TBML involves the process of disguising the origins of illegal funds and legitimizing them through trade transactions, while TBTF utilizes trade mechanisms to finance terrorist activities, whether the funds are from lawful or unlawful sources.
Course objectives of seminar:
- Discover the complexity of TBFC which involves a variety of sophisticated schemes to mask criminal activity
- Gain insights into how illicit funds, goods or services can be moved through trade flows
- How to mitigate money laundering, terrorism financing, commercial fraud through identification of TBFC red flags
- Best practices for exercising due diligence on customers and on trade transactions
- Lesson to learn from court decisions
PROGRAMME
| 08:30 | Registration and Morning coffee |
| 09:00 |
Introduction to Trade Based Financial Crime
|
| 10:00 |
Documentary Credit Frauds
|
| 10:45 | Coffee Break |
| 11:00 |
Documentary Credit Frauds (Continued)
Financial Instrument Frauds
|
| 12:30 | Lunch Break |
| 14:00 |
Money Laundering & Terrorism Financing
|
| 15:30 | Coffee Break |
| 15:45 |
Sanctions
Kuvera Resources vs JP Morgan Chase in Singapore
|
| 17:00 | End of Programme |
WHO SHOULD ATTEND?
Managers and officers from trade finance marketing, trade services, LC experts, risks and compliance, internal auditors, corporate and commercial banking.
PARTICIPATION FEE*
Payable to “ICC Malaysia Berhad” Bank: Malayan Banking Berhad | Account No: 514178682986 | Swift Code: MBBEMYKL
SPEAKER
Dr Soh Chee Seng is Technical Consultant on trade finance issues for the Association of Banks in
Singapore, Non-Exclusive External Trade Finance Adviser of a number of banks in Asia Pacific and Associate Director of Institute of International Banking Law & Practice, USA.
Dr Soh is a member of the Panel of Experts, ICC Rules for Documentary Credit Dispute Resolution Expertise (DOCDEX). He served as a member of the UCP600 Drafting Groupcommissioned by the ICC Banking Commission to revise UCP500 and member of the task force on international standard banking practice for documentary credits (ISBP).
Dr Soh has conducted workshops on trade finance issues to numerous ICC national committees and financial institutions in Southeast Asia. He has been invited by the Supreme People’s Court of China, Shanghai High People’s Court and Tianjin High People’s Court to conduct seminars on ISBP for the judges in China. He has also been invited as an expert witness on many LC cases in China, Hong Kong, Malaysia, Singapore and South Korea.
Dr Soh received his Ph.D. in International Law from the China University of Political Science and Law in 2011 and his first degree, Bachelor of Commerce, major in Economics, from Nanyang University, Singapore, in 1973.
CANCELLATION / REPLACEMENT / NO-SHOW POLICY
- All registrations carry a 50% cancellation liability immediately after a completed registration form has been received by ICC Malaysia.
- Cancellation must be in writing to ICC Malaysia. Replacement at no additional cost.
- Deadline for registration and payment: 10 October 2024
- Participants who do not turn up at the event are liable for the full fee.
- ICC Malaysia reserves the right to alter, cancel or reschedule the programme. All efforts will be taken to inform participants. If ICC Malaysia decides to cancel/postpone the event, ICC Malaysia
- shall not be responsible for covering all costs incurred by participants.