Trade Based Money Laundering through Stimulation Board Game

In this article we will know how Trade Based Money Laundering through Stimulation Board Game can help individuals and organizations to combat Trade Based Money Laundering effectively.

First we need to understand what Trade Based Money Laundering (TBML) is and how it can be tackled through intensive training on Anti Money Laundering in Dubai, United Arab Emirates.

Trade Based Money Laundering is the process where Money Launderers move illegal funds through international trade and resultantly legitimize those funds. Trade Based Money Laundering (TBML) practices include falsification of goods prices, manipulation in quantity, and quality of the goods.

Why do we need Simulation Board Game Workshop on Trade Based Money Laundering

Trade Based Money Laundering Board Game helps professionals to be part of Simulation Board Game to understand Trade Based Money Laundering real and up close. Our Simulation Board Game on Trade Based Money Laundering covers complex aspects of Trade Based Money Laundering and risks involved with it.

Before we jump into discussion on Simulation Board Game on Trade Based Money Laundering we must first have a look at Understanding Techniques of Trade Based Money Laundering.

This Simulation Board Game Workshop on Trade Based Money Laundering is suitable for risk managers, white collar crime specialists, compliance officers, account opening officers who are directly in contact / engaged with clients.

This course on Trade Based Money Laundering through Simulation Board Game us designed to give you an overview of money laundering, fake documents, ghost shipments, shell companies and ambiguous beneficial ownership structures.

It covers identification of red flags, AML risk management frameworks, definitions, Common Money Laundering Techniques and legislative framework to detect and report illegal activities to the regulator and as an added advantage it covers globally recognized procedures for mitigating the risk presented by money laundering and Terrorism Financing.

Tafkeer Professional Development is offering Simulation Board Game on Trade Based Money Laundering in Dubai, GCC along with theoretical training on Trade Based Money Laundering.

This Simulation Board Game on Trade Based Money Laundering is offered as inhouse training program where participants can participate and get the learning on next level.

What you’ll learn from this TBML Board Game Training

Money Laundering, Trade Based Money Laundering with Examples
Trade Transactions, Trade Based ML, Regulatory Requirements related to Trade Based Money Laundering for banks and FIs
Trade Based Customer Due Diligence, Enhanced Due Diligence (EDD),
Example of Trade Transactions involving Exchange of High Value Item against the Illegal Product, to perform Money Laundering
Examples of Under and Over Invoicing by Importers and Exporters
Suspicious Transactions and Reporting Requirements
Roles and responsibilities of Trade Based Money Laundering Reporting Officer

Topics Covered in this Course – Game Based Anti-Money Laundering Training

This course will teach you the following aspects of Anti-Money laundering AML and Trade-Based Money Laundering TBML:

Money Laundering ML, Risks Involved, and its Purpose
Why are Anti-Money laundering AML Measures Important for a Country’s FS
Example – Typical Trade Transaction between 2 Companies to Support Criminals
Example – Exchange of High-Value Item against Illegal Product to Support Criminal
Core Risks in the International Trade System
Trade-Based Money Laundering TBAML
Understanding Trade-Based Money Laundering
Different Types of Trade Transactions
Things Money launderers Do In Trade-Based Money Laundering Transactions
Example – Trade-based money laundering TBML transactions
Example – ‘Under or Over’ Invoicing and Tax Avoidance by Group Companies
Example – Trade Transaction Involving Criminal Activity
Example – Over-invoicing Imports and Exports, to Launder Money
Example – Suspicious Imports By the Owner of a Company
Misrepresentation of Quantities and Money Laundering – Imports/Exports
Methods Used by Money Launderers in Trade Transactions
Roles and responsibilities of the Board of Directors and Senior Management
Policies and procedures, to deal with Trade-Based Money Laundering TBML activities and Implement Trade-Based Anti-Money Laundering TBAML Requirements
Understanding Concepts of Customer Due Diligence CDD and KYC
Understanding Customer Due Diligence CDD Concept
Example 1 – Normal Case – CDD of a Corporate Client
Example 2 – Suspicious Case – CDD of a Corporate Client
Understanding Know Your Customer KYC Concept
Customer Due Diligence CDD and KYC Measures in TBAML
Trade Customer’s Due Diligence and Risk Profiling CRP Requirements
Screening measures (KYC/CDD perspective)
EDD measures
TBML Suspicious Transactions Reporting
Key Considerations in Preparing Suspicious Transactions Reports SARs
Database Management
Trade-Based Money Laundering TBML Database requirements
Trade-Based Money Laundering Red Flags, and Risk Indicators
Trade-Based Money Laundering TBML Red Flags or Risk Indicators
TBML Structural Money Laundering Risk Indicators
TBML Document Money Laundering Risk Indicators
Roles and responsibilities of Trade-Based Money Laundering Reporting Officer (TBMLRO)
Internal Reporting by MLRO
Challenges Faced with Control of Trade-Based Money Laundering
Quiz MCQs

Why This Course:

Some of the core benefits of attending this course or certification include:

If you want to work in the Compliance Function, Risk Management Function, Anti-Financial Crime Department. or Anti-Trade-Based Money Laundering Department, then this course will help you understand the work requirements.
After attending this course you will get a certificate of course completion, which shall enhance your job profile
Get lifetime access and a certificate of completion of this course