Essentials: Trade Based Financial Crime

The areas we must be concerned with are far more than trade and far more than money laundering.

It's financial crime in trade, industry and commerce.

That's why we don't call it "Trade Based Money Laundering."



When I wrote ″How not to be a money launderer″ in 1996, I covered almost the entire gamut of what has since become known – inaccurately – as ″Trade-Based Money Laundering.″

The reality is that commerce and industry, not only trade, is at the heart of many financial crimes, not only money laundering. 

The whole range of commerce and industry and, even, professions, not only trade, is at the heart of many financial crimes, not only money laundering. 

In this Essentials course, we look at a wide range of subjects, including those banded in ″trade based money laundering″ and examine risk factors and mitigation measures and compliance.




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Course information

Examination? Yes

Certificate? Yes

Duration of certificate: one year from successful examination.

Access: unlimited for one year. Includes all updates.

Revise previous pages? Yes.

Portable CPD (TM) where recognised: 8 hours.

Learning Ladder? Yes

Certificate in Financial Crime Risk and Compliance credits: 35

Language: English



Individual

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Course curriculum

  1. 1
    • About this course

    • Status of this course

    • Caveat and Legal

    • Pre-requisite

  2. 2
    • 1.1. Defining trade, commerce, industry and professions.

    • 1.2 The four basic types of conduct at the core of financial crime offences in commerce and industry, trade and professions.

    • 1.3 The argument against micro-classification of offences.

    • 1.4. The Umbrella Principle.

    • 1.5 In the beginning (or perhaps before it)

    • 1.6 When the past and the present meet but don’t collide.

  3. 3
    • 2.1 The origins of the term ″trade-based money laundering.″

    • 2.2 Plastic toilet seats: the surprising game-changer.

    • 2.3 Fluid definitions and legal (un)certainty.

    • 2.4 Uncertain borders

    • 2.5 Invisible borders, visible enforcement.

    • 2.6 Can we define ″the border″?

    • 2.7 Further Reading

  4. 4
    • 3.1.1 Five points to remember

    • 3.2.1 Old wine in new bottles.

    • 3.2.2 Old wine in new bottles.

    • 3.2.3 Old wine in new bottles.

    • 3.2.4 Old wine in new bottles.

    • 3.2.5 Old wine in new bottles.

    • 3.2.6 Old wine in new bottles.

    • 3.3 Are tax havens and duty free zones the same thing?

    • 3.4 Relevant concepts you are familiar with – in your personal life.

    • 3.5 Crossing the fiscal barrier.

    • 3.6 ″The Free Trade Zone fad″.xxxx

    • 3.7 Who uses free trade zones?

    • 3.8 Goods in a free port behave just like money in a bank.

    • 3.9 Long division and the value of cigarettes

    • 3.10. What law applies in Free Trade Zones?

    • 3.11.1 Sample law setting up a free trade zone.

    • 3.11.2 Sample law setting up a free trade zone.

    • 3.11.3 Sample law setting up a free trade zone.

    • 3.11.4 Sample law setting up a free trade zone.

    • 3.12 "You said it was what?"

    • 3.13.1 Permits and Permissions

    • 3.13.2 Permits and Permissions

    • 3.13.3 Permits and Permissions

    • 3.14 By any other name….

  5. 5
    • 4.1 Reducing the need for extra-territorial application of laws.

    • 4.2 Classifying "dirty money."

    • 4.3 Money Laundering

    • 4.4 Free trade zones and sanctions evasion.

  6. 6
    • 5.1.1 Quantifying financial crime through free trade zones.

    • 5.1.2 Quantifying financial crime through free trade zones.

    • 5.2.1 Attempts to combat risk of financial crime in free trade zones.

    • 5.2.2 Attempts to combat risk of financial crime in free trade zones.

    • 5.2.3 Attempts to combat risk of financial crime in free trade zones.

    • 5.2.4 Attempts to combat risk of financial crime in free trade zones.

    • 5.2.5 Attempts to combat risk of financial crime in free trade zones.

    • 5.3 CASE STUDY: demonstrating the free-port fallacy.

    • 5.4 Further Reading

  7. 7
    • 6.1 Smuggling

    • 6.2 Smuggling

    • 6.3 Smuggling

    • 6.4 Smuggling

    • 6.5 Smuggling

    • 6.6 Smuggling

    • 6.7 Examples of smuggling

    • 6.8 Smuggling as value transfer

    • 6.9 Dumping

  8. 8
    • 7.1 Overview

    • 7.2.1 Climate Change.

    • 7.2.2 Climate Change.

    • 7.2.3 Climate Change.

    • 7.2.4 Climate Change.

    • 7.2.5 Corruption in Climate Change projects

    • 7.3.1 Endangered Species – plants, animals and products thereof.

    • 7.3.2 Endangered Species - plants, animals and products thereof.

    • 7.3.3 Poaching.

    • 7.3.4 Endangered species – plants.

    • 7.3.5 Endangered Species - animals

    • 7.3.6 Endangered species - medicinal uses

    • 7.3.7 Endangered species - conclusions

    • 7.4.1 Destruction of habitat.

    • 7.x Coming pages in this section.

  9. 9
    • In this chapter

  10. 10
    • In this chapter

  11. 11
    • In this chapter

  12. 12
    • 11.1 What is the difference between smuggling and trafficking in people?

    • 11.2

  13. 13
    • 13.1 New wine in old bottles.

  14. 14
    • 14.1 In this chapter

  15. 15
    • 15.1 Fraud

    • 15.2 Funding future crime

    • 15.3 Support for terrorism

    • 15.4 Using online platforms for money transfer

    • 15.5 Online platforms and illegal trades

  16. 16
    • Links to courses referred to in this course.

  17. 17
    • About examination and certification