i-TBML Trade Based Money Laundering

As Anti-Money Laundering (AML) control evolves, criminals find ways to convert their illicit earnings into legitimate earnings. One of the most prevalent and critical money laundering methodology deployed by criminals is to exploit the complex processes of international trade. Financial Institutions across the globe are investing in upgrading their financial crime prevention systems on the basis of Artificial Intelligence (AI) and Machine Learning (ML) technologies.

TBML Scenarios

  • Over-invoicing
  • Under-invoicing
  • Multiple invoicing of goods & services
  • Misrepresentation of quality
  • Round Tripping
  • Fictitious trades

IDBI Intech Offerings:

IDBI Intech offers a specialized module to detect trade based money laundering on a real-time basis, which includes following features:

  • Transactions monitoring scenarios to detect potential TBML patterns.
  • Dynamic workflow mechanism.
  • Root finder module to enhanced due diligence.
  • Real-time customer screening capability
  • Real-time counterparty & vessel screening and due diligence capability.
  • Provision for uploading EDPMS and IDPMS databases.
  • Regulatory Report generation
  • Compatibility with various CBS solutions.
  • Best practices to help Financial Institutions mitigate the potential threat of TBML