ICA TBML Specialist Cert case studies
ICA TBML Specialist Cert · Put your knowledge to work in context.
The ICA Specialist Certificate in Trade Based Money Laundering is a professional qualification offered by the International Compliance Association (ICA), an organisation whose qualifications span subject areas including Anti Money Laundering, Financial Crime Prevention and Customer Due Diligence/KYC. This specialist certificate is aimed at compliance, trade finance, banking operations and financial crime prevention professionals who need to recognise and mitigate the money-laundering risks inherent in trade transactions, documentary credits and cross-border goods flows. The ICA TBML Specialist Cert case studies are 5 cases and about 1,770 words.
1The Over-Invoiced Electronics Shipment
A bank's trade finance team processes a documentary credit for a shipment of 500 smartphones from a supplier in Country A to a buyer in Country B. The invoice value is USD 1,250,000, but the bank's customs data shows the declared value at USD 750,000.
335 words, about 2 min2The Phantom Shipment of Precious Metals
A customer, a trading company specializing in precious metals, requests a letter of credit for a shipment of gold bars from Country C to Country D. The documents presented include a bill of lading, commercial invoice, and packing list.
339 words, about 2 min3The Carousel Fraud with Misclassified Goods
A UK-based company, VAT-registered, imports mobile phones from a supplier in Country E and exports them to a buyer in Country F. The company claims VAT exemption on the exports.
332 words, about 2 min4The Charitable Donation with a Hidden Agenda
A UK-based charity, registered for three years, receives a large donation of GBP 2 million from an overseas foundation. The foundation is based in a jurisdiction known for weak AML controls and is linked to a politically exposed person (PEP) from a country under international sanctions.
366 words, about 2 min5The Shell Company with Inconsistent Trade Flows
A bank onboards a new corporate customer, a company incorporated in a jurisdiction with strict secrecy laws. The company's stated business is importing agricultural products from Country G and exporting to Country H.
398 words, about 2 min