Compliance

Verify transaction compliance with trade rules and regulatory requirements.

Compliance Check
Verify transaction compliance with trade rules and regulatory requirements

Note: This compliance check is for internal use only. External compliance checks (AMLCTF, Sanctions, Bank Policies) are handled by separate systems.

Compliance Requirements
Key compliance areas for trade finance transactions

Trade Rules

  • UCP 600 - Uniform Customs and Practice for Documentary Credits
  • URC 522 - Uniform Rules for Collections
  • URR 725 - Uniform Rules for Bank-to-Bank Reimbursements
  • URDG 758 - Uniform Rules for Demand Guarantees
  • ISP98 - International Standby Practices

External Compliance (Handled Separately)

  • AML/CTF - Anti-Money Laundering and Counter-Terrorism Financing
  • Sanctions Screening - OFAC, UN, EU, DFAT sanctions lists
  • Bank Policies - Country risk, counterparty limits, product restrictions
Compliance Process
How compliance checks are integrated into workflows

  1. Initial Transaction Check

    Automated verification against trade rules and format requirements

  2. External Compliance Check

    Transaction details sent to external compliance systems for AML/CTF and sanctions screening

  3. Bank Policy Verification

    Verification against Bank of Sydney's internal policies and risk appetite

  4. Approval Process

    Compliance results reviewed as part of the transaction approval workflow

  5. Ongoing Monitoring

    Periodic re-screening of active transactions against updated compliance requirements