Nature of the goods and their potential dual-use (military and civilian), Details of vessels – such as flag, journey history, name history, Beneficial ownership of the vessel and checks on the shipping company, Port of loading and discharge of the vessel, Agents or third parties involved in the transaction, Ports of call of the vessel for the particular transaction flow (origin port, destination port), Recent voyage history of the vessel and whether it has docked at any embargoed countries during previous voyages. Experience in Transaction Monitoring and/or Compliance (essential). On behalf of our client, an International Bank based in London, we are seeking a Client & Transaction Due Diligence Associate to join their Trade Finance team. Experience in Transaction Monitoring … AML transaction monitoring solutions can also include sanctions screening, blacklist screening, and customer profiling features. © 2020 Association of Certified Anti-Money Laundering Specialists LLC. Accuity is part of the LexisNexis® Risk Solutions Group portfolio of brands, The MAS recently issued guidance for Singapore-based financial institutions relating to countering terrorism financing within the trade finance and correspondent banking businesses. Investigate, review and refer where appropriate any transaction monitoring and sanctions related alerts. It will also become apparent that the alternative to manual monitoring is to target four primary areas, discussed below. is also addressed by the report (page 28) as follows: For Documentary Trade transactions, it should The parties involved in trade finance are numerous and can include: Trade financing is different than conventional financing or credit issuance. Complete all of your trade compliance checks in one place. Conduct in-depth analysis and investigation of all transactions referred and reviewed by the Analyst. it is termed in the report Risk Factors.
The widespread use of trade finance has contributed to international trade growth. Reporting will be layered into the overall solution and investigators will have the ability to easily display a number of reports to aid in their research and investigation, minimizing the more traditional manual and paper-based processes currently in place. standard patterning techniques in relation to transaction monitoring processes Or in other Originally published by TXF News. Trade finance makes it possible and easier for importers and exporters to transact business through trade. Below are a few of the financial instruments used in trade finance: Although international trade has been in existence for centuries, trade finance facilitates its advancement.