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By Patrick GOERGEN, Founder CEO, RespectUs(1) (Luxembourg)
Part 2(2)
5. Applying a risk-based approach to Trade Finance
Financial institutions, particularly banks but also credit card operators and foreign exchange dealers, may be involved in providing financing, processing payments, or performing other services associated with international trade.
Financial institutions directly involved in providing trade finance for exporters also may have access to information relevant to identifying potentially suspicious activity. This may include their customers’ end-use certificates, export documents, or other more extensive documentation associated with letters of credit-based trade...
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