Trade Based Money Laundering (TBML) – Fundamentals

Watch the following video or read the text below to see what the goals of the training are and what is covered.

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In this training, our goal is to elevate your awareness of the risks inherent in trade transactions and provide you with the knowledge and skills necessary to identify, prevent, and mitigate Trade-Based Money Laundering activities. Throughout this journey, you’ll develop a robust skill set, including:

  • Understanding TBML Concepts: Gain a comprehensive understanding of TBML and explore the various methods and techniques used by criminals to launder money through trade transactions.
  • Recent Trends and Developments: Stay ahead of the curve by delving into the latest market trends and developments related to managing TBML risks.
  • Trade Finance Operations: Navigate the intricacies of banks’ roles, documentary trade products, and the concept of clean payments/open account trading.
  • Identifying Risks and Red Flags: Equip yourself with the knowledge to recognize red flags and suspicious activities indicative of TBML, including patterns and anomalies in trade transactions.
  • Transaction Due Diligence: Familiarize yourself with essential TBML controls for conducting proper due diligence on documentary trade transactions.
  • Best Practices: Discover and implement best practices in TBML prevention, gaining practical guidance on effective compliance programs and controls.

Module Breakdown

This training unfolds across three comprehensive modules:

  1. Introduction to TBML: Covering the concept, methods, and techniques, along with an exploration of why TBML is a growing concern.
  2. Banks’ Role in TBML Prevention: Delving into the crucial role of banks in preventing and detecting TBML, including relevant trade finance operations, documentary trade products, and clean payments.
  3. TBML Risks and Controls: Concluding with an in-depth look at TBML risks, controls, and recommendations for actionable steps to enhance prevention and detection.

Embark on this educational journey with Compliance Champs, and enhance your skills to become a vigilant guardian against Trade-Based Money Laundering. We wish you success in advancing your career and contributing to the integrity of the financial system.