Thomson Reuters Launches TRAC to Tackle Trade Based Money Laundering

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October 11, 2016

Thomson Reuters, a source of news and information for professional markets, has today announced the launch of TRAC, a new anti-money laundering solution to combat trade based money laundering (TBML) and drive transparency and efficiency across trade finance.

TRAC which stands for “Trade Finance, Regulations, Audit and Control” is a first-of-its kind end-to-end solution offering holistic risk management of trade finance while satisfying the Monetary Authority of Singapore and Hong Kong Monetary Authority’s recently developed guidelines on combating TBML.

TRAC combats risks at different stages of the trade finance life-cycle. From pre-trade, execution to post-trade, it performs screening of vessels and third parties, tracks shipments, provides regulatory reporting and monitors transactions.