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The financial cost of fraudulent transactions

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Fraudulent transactions within the global trade financing market contribute to an estimated annual cost of $5 billion in total business disruption, according to the International Chamber of Commerce. International organisations have issued guidance requiring financial institutions to exercise greater due diligence, particularly in relation to paper-based processes. Bad actors are finding increasingly complex ways to hide their activities, and the consequences of non-compliance can be disastrous. It is vital to find the right solution to reduce the time and cost associated with preventing fraud, eliminate human error and comply with global regulations.

Combining dual use goods screening and price verification, Seasearcher Trade Risk streamlines and enhances your due diligence processes for trade finance, ultimately contributing to a more compliant and transparent global trade environment.

Streamline your workflow with enhanced TBML screening

To enhance your due diligence processes and boost your screening efficiency, Seasearcher Trade Risk enables you to screen a maximum of 5 goods per transaction. With our powerful range of capabilities, you can quickly and accurately screen for dual-use goods risk, and confidently detect under or over invoicing to prevent fraud.

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Screen a maximum of 5 goods per transaction; some documents contain multiple goods

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Verify shipment descriptions to detect dual use goods and mitigate risk

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Input prices to view historical fluctuations; detect fraudulent valuation of goods

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Check if the vessel is appropriate for the good types

Unusual trade routes

Receive alerts when similar historical trade routes cannot be detected

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Ensure evidence is collected for audit trail requirements

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Screen for dual use goods risk with access to 21 export control lists

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Reduce false positives with match phrases correlating to dual use goods

watch lists

Access trade data from all countries and HS codes up to 6 digits

21

export control lists, provided by Dow Jones

4,800+

restricted items, for dual-used goods screening

12

historical price fluctuations, for detecting over or under invoicing

Up to 5

goods can be screened per transaction - some transactions contain multiple goods

Stay alert to trade risk, stay compliant

With comprehensive data coverage and an AI-driven methodology, Seasearcher Trade Risk empowers you to conduct more thorough and efficient risk assessments, safeguards your organisation against fraud and protects you from the severe consequences of non-compliance

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Prevent fraud by detecting under-invoicing to evade taxes, or over-invoicing to inflate the value of goods for financial gain. Avoid legal repercussions, reputational damage and loss of business opportunities

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Ensure compliance by completing international trade regulations and customs requirements, such as the WTO’s Agreement on Customs Valuation, and avoid falling foul of the authorities

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Avoid facilitating financial crime and ensure the integrity of international trade systems. Prevent the illicit movement of funds through trade transactions

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For greater efficiency, integrate anti-money-laundering checks into your transaction compliance processes and download compliance reports for audit trails all in one place, minimising reduced false positives.

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