TBML

At Mayfair Compliance, we pride ourselves on being among a select group of consultancies worldwide offering reliable and contemporary strategies to combat Trade-Based Money Laundering (TBML). Our consultants, armed with a blend of industry experience and academic expertise, provide a high level of certainty in understanding TBML, particularly in the face of the intricate movement of illicit funds across borders through seemingly legitimate trade transactions.

TBML is arguably one of the most challenging forms of money laundering to detect and prevent, given the colossal volume of trade-based transactions in the global economy. We understand the essential risks to your company and your clients and ensure transactions are conducted with meticulous professionalism.

To fully comprehend TBML, one must explore current literature, which provides clarity on defining a reasonable suspicion that a transaction involves illicit funds and the obligation of financial service providers to report such suspicions.

Letters of credit have been praised as the cornerstone of international trade, particularly for small and medium-sized transactions. However, the process of issuing letters of credit can be susceptible to manipulation, making it essential for financial service providers to comprehend trade-based transactions and the associated risks.

Mayfair Compliance is well-equipped to address TBML pressure points, such as screening personnel, understanding regulatory discrepancies between countries, and interpreting trade-based documentation. We specialize in developing achievable and manageable protocols related to Letters of Credit and other processes involved in trade-based transactions.

Our TBML experts will work closely with your teams to ascertain your TBML risk, clarify your responsibilities concerning TBML regulations in your region, and design customized staff and management training programs to fit the specific needs of your organization.