Page 2 - 20200513 Newsletter - 07042020 Final

Volume 3, Edition 1 Chatterbox 07/04/2020

Part One: Crime Awareness Great Chatwell
Academy of Learning

Trade-Based Money Laundering Customised Online Learning
We work with the children of a
generation that has endured years
of dull, uninspiring and meaningless
online learning. We are committed
to changing this and we now offer a
genuine alternative proposition.
Working with outstanding and
creative designers, we ensure that
the tone and technical content are
FATF identified trade-based money economies, at 37.3%, followed by appropriately balanced to support a
laundering (TBML) as a significant Gabon, Togo, The Maldives and learning journey that is interactive
issue as early as 2008, and trade- Malawi. and meaningful.
based laundering continues to be a • Electrical machinery, at a We provide animated learning
favoured subject and focus for us here whopping $153.7 billion, was content, with audio and visual
at GCAL. And for a very good reason. the number one value gap for stimulation that provides learners
products traded between the 135 with outcomes focused learning that
According to the latest report developing and 36 developed will provide greater confidence and
published in February 2020 by Global countries over 10 years competence in managing risks.
Financial Integrity, TBML and tax
evasion contributed to a loss of nearly What does this all mean? Trade Here is a list of some of the subjects
US$9 trillion for developing countries continues to offer a very attractive we now cover:
between 2008 and 2017. and successful means of moving illicit 1. Managing the Risks of Trade
value out of developing economies. Based Money Laundering, Dual-use
A gap in the value between import Goods and Sanctions Evasion
and export figures has been attributed It means that as 80% of trade is 2. Financial Crime Compliance
to trade mis-invoicing and whilst the reportedly performed on open (including anti-money laundering)
report noted that it is not possible account terms, the role of a financial 3. Fraud Risk Management
to ascertain why the invoices were crime professional in identifying illicit 4. Managing Virtual Currency/
falsified, why the gaps arose or who activity is incredibly difficult and Assets
is to blame, it stressed that hiding continues to rely on the expertise of 5. Customer Due Diligence/ Know
Your Customer
illicit wealth from national authorities trade document professionals and 6. Managing Sanctions Risks
is a “major impetus” that makes a hope that new technology can be 7. Managing Tax Evasion Risks under
individuals engage in trade mis- deployed to manage and identify the Criminal Finances Act
invoicing. unusual activity. 8. Identifying and reporting the
proceeds of crime and terrorism
Some interesting highlights include: https://secureservercdn. (SARS)
• China had the biggest value gap in net/45.40.149.159/34n.8bd. 9. Managing Bribery and Corruption
trade with developed countries, at myftpupload.com/wp-content/ Risks
$323.8 billion. uploads/2020/03/GFI-Final- 10. Deterring, detecting and
• Gambia that has the largest gap as Trade-IFFs-Report-2020-3.2.20. disrupting the financing of terrorism
a percentage of its total bilateral pdf?time=1583213070 and proliferation
trade with the 36 advanced
For further information
please contact us at: info@
greatchatwellacademy.com

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