Financial Crime World

TIMOR: Comprehensive Compliance Training for Financial Professionals Launched

East Timor’s financial sector is poised to benefit from a groundbreaking new training initiative designed specifically for professionals working in the complex realm of trade compliance and export controls. The “Certificate in Trade Compliance and Export Controls” program offers a comprehensive overview of the intricacies of global trade, providing participants with the foundational knowledge and practical skills required to navigate the rapidly evolving market landscape.

Program Overview

The four-module program is tailored to equip financial professionals with the expertise needed to excel in their roles. The program covers a wide range of topics from the fundamentals of trade to setting up robust trade-based anti-money laundering programs. Each module includes case studies, quizzes, and further reading materials to enhance the learning experience.

Module 1: Essentials of Trade

  • Delves into the essentials of trade, exploring the distinctions between imports and exports
  • Covers export documentation and exporter CDD/KYC processes
  • Includes a real-world application case study on broader export controls implemented by banks
  • Multiple-choice quiz and curated list of further readings

Module 2: Trade Compliance

  • Introduces participants to core concepts in trade compliance
  • Explains trade-based anti-money laundering requirements
  • Explores the risks inherent in trade transactions and provides insights into risk mitigation strategies
  • Hands-on case study on planning and monitoring trade transactions

Module 3: Trade-Based Money Laundering (TBML)

  • Examines the core concept of money laundering, its stages, and associated predicate offenses
  • Covers various methods criminals use to exploit trade for illicit purposes
  • Provides insights into how organizations effectively monitor their trade transactions

Module 4: Setting Up Robust Trade-Based Anti-Money Laundering Programs

  • Covers governance structures, red flags in trade transactions, and the roles of TBAML management committees and reporting officers
  • Includes a case study on AML/KYCD documentation to help learners bridge theory with practice

Certification

Upon completing all four modules and assessments, participants will be awarded the coveted “Certificate in Trade Compliance and Export Controls,” signifying their proficiency in the domain. This program is a valuable resource for professionals seeking to excel in the complex world of global trade and compliance.