The Access Bank Malta Ltd participated in a webinar titled Trade-Based Money Laundering: Real-World Insights and Compliance, through its MLRO, Kevin Scerri, together with Mr Matthew Agius Mamo, CEO of Diligex, and Ms Jeanette Gatt, Chief Compliance Advisory Officer of Diligex.
From a banking perspective, the webinar covered the evolution of TBML through guidance and publications issued by the Financial Action Task Force (“FATF”), the customer due diligence expectations outlined within the Wolfsberg Group Trade Finance Principles, as well as the due diligence and enhanced transaction-level controls typically applied by banks in trade finance activities.
The session also explored the obligations and responsibilities of other subject persons including corporate service providers, auditors and accountants in identifying and mitigating TBML risks. In addition, a number of TBML case studies were discussed, providing practical examples of common TBML typologies and scenarios encountered in practice.
Please find below a link to an article published in collaboration with Diligex, which you can access here: https://diligex.eu/news/common-red-flags-for-trade-based-money-laundering-schemes/
Kevin Scerri, MLRO of The Access Bank Malta Limited, Ms Jeanette Gatt, Chief Compliance Advisory Officer of Diligex, and Mr Matthew Agius Mamo, CEO of Diligex.
