Start Offshore financial self liquidating loan services

Offshore financial self liquidating loan services

Refer to overview section, "Office of Foreign Assets Control," page 142, for guidance.

The international trade system is subject to a wide range of risks and vulnerabilities that provide criminal organizations with the opportunity to launder the proceeds of crime and move funds to terrorist organizations with a relatively low risk of detection.

The involvement of multiple parties on both sides of any international trade transaction can make the process of due diligence more difficult.

The due diligence should include gathering sufficient information on Applicants and Beneficiaries, including their identities, nature of business, and sources of funding.

This may require the use of background checks or investigations, particularly in higher-risk jurisdictions.

Moreover, many suspect trade finance transactions also involve collusion between buyers and sellers.

The Applicant's true identity or ownership may be disguised by the use of certain corporate forms, such as shell companies or offshore front companies.

Both the exporter and importer may also have other banking relationships.