The TSCFP is collaborating with Pakistan's Financial Monitoring Unit (FMU), along with 4 additional countries, on a pilot project aimed at countering trade-based money laundering (TBML) by improving the reporting of suspicious trade transactions. As part of the pilot, the TSCFP team conducted a two-day masterclass, May 4-5, in Karachi and Islamabad for about 250 representatives from banks, FMU staff, Customs, and law enforcement agencies. The training sessions were well-received, with FMU expressing thanks to the ADB team and international subject matter experts. The collaboration between TSCFP and FMU represents a significant step to provide capacity building with best-in-class information to address TBML in Pakistan.

The Asian Development Bank’s (ADB) Trade and Supply Chain Finance Program’s Countering Trade-Based Money Laundering Masterclass is a specialized training for relevant personnel in banks, FIU, customs, and law enforcement agencies to equip them with practical skills in detecting, analyzing, and investigating TBML cases. At the same time, the two-day workshop aims to foster strategic partnerships between the public and private sectors in sharing knowledge and expertise, and in working together whether through formal or informal channels, to effectively detect and/or disrupt TBML. The Masterclass is part of the ongoing ADB-led pilot on enhanced TBML reporting which enables banks to provide more actionable intelligence to regulators and law enforcement agencies. Countries included in the pilot are: Bangladesh, Mongolia, Nepal, Pakistan, and Sri Lanka.

The ADB TBML Masterclass in Bangladesh happening on 8-9 May 2023 at The Westin Dhaka is jointly organized with the Bangladesh Financial Intelligence Unit, a unit under the Bangladesh Bank (central bank). The ADB has engaged international subject matter experts to speak on relevant TBML topics, share best practices and tips, and facilitate interactive sessions during the workshop.