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Certificate in Trade Finance Compliance (CTFC) 

Professional Qualifications

Certificate in Trade Finance Compliance (CTFC) 

CTFC is the new industry certification designed to tackle trade finance based crimes across the globe.

Two business people sitting at a computer

About the qualification

This qualification gives you the technical knowledge to succeed in trade finance compliance and the ability to apply expertise in a professional setting. It is a valuable benchmark for Trade Finance Operations Staff, Relationship Managers, Bank Audit and Compliance Staff, and Risk Managers.  

The wide-ranging scope of this international qualification includes:

  • anti money-laundering
  • countering terrorism financing
  • sanctions and anti boycott provisions
  • weapons of mass destruction
  • bribery and corruption
  • commercial fraud

The CTFC is a Level 4 qualification registered with Ofqual in the Regulated Qualifications Framework.

Key facts

  • Comprehensive study materials are provided online
  • Registration is open all year round
  • Multiple-choice exam assessment is available internationally
  • On completion, you can use the CTFC designation after your name 

Units

Unit - Trade Finance Compliance

CTFC consists of one unit. It is recommended that students spend 290 learning hours studying for this qualification.

This unit introduces the importance of trade finance compliance by focusing on the international trade environment, on anti-money laundering, the impact and significance of terrorist financing, sanctions, corruption, money laundering and fraud on international trade. In addition the unit explores how to respond to indicators of trade finance compliance and how to reach satisfactory solutions to the problems faced in international trade and finance.

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The London Institute of Banking & Finance programme has contributed massively in strengthening the capability, competence and professionalism of our people to build credibility and confidence with our customers. The qualifications help HSBC to demonstrate, through an externally benchmarked programme, that our people are highly skilled to deal with new regulations.

Jennifer E M Crawley -Deputy UK Director of Small Businesses, HSBC BANK PLC

Studying

The core text for the qualification is the excellent new publication Trade Based Financial Crime Compliance by Professor James Byrne of the Institute of International Law & Banking Practice (IIBLP). It has been written specifically to complement CTFC and is supported by an interactive module delivered by Coastline Solutions.

The study materials will:

  • Offer a detailed introduction to trade and trade products for professionals unfamiliar with its structure.
  • Identify the best practices for exercising due diligence in trade transactions.
  • Provide comprehensive steps in overcoming the common types of financial crimes that are facing financial institutions today.
  • Explain the indicators bankers need to be aware of in order to take proactive steps in preventing their financial institution from becoming a victim of financial crime or incurring a regulatory fine.
  • Discuss how financial institutions can identify and prevent the occurrence of money laundering, terrorism financing, bribery, commercial fraud and the proliferation of weapons of mass destruction.

      

CTFC Registry

The international CTFC Registry contains the names of individuals that hold the CTFC designation.

It may take up to 30 days for an individual’s details to appear after receiving their results. If an individual has not passed, their details will not be in the registry. If they don’t successfully recertify after three years, their names are removed from the registry. 

If you have any queries, please email customerservices@libf.ac.uk or call +44 (0)12 2781 8609.

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Assessment

CTFC is assessed through a single 2 hour 30-minute objective exam, split into two sections.

Section A
60 multiple choice questions (a total of 60 marks available for section A).

Section B
5 multiple choice questions and 5 multi-response questions (worth 1 mark each); followed by 3 case studies comprising a combination of questions requiring you to evaluate a scenario, including questions requiring you to pair statements from a selection of options, 10 marks will available for each case study (a total of 40 marks available for section B).

You can choose which date to sit your exam at selected centres worldwide, with the result provided on the day. 

View information on examination booking and venues

Recertification

 
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Register your interest

By registering your interest you will receive monthly updates regarding our qualifications and services within this area.

Please select at least one qualification


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We will use and protect your personal data in accordance with current data protection legislation to process your interest to receive updates on the relevant topics. Further details, including your rights, the disclosure of data to third parties, storage, retention and how to amend your personal data, can be found within our Privacy Notice.


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International students registration

Registration forms for students from China, Indonesia and South Korea should be sent to the addresses detailed under the relevant country below.

Further details and any queries should be directed to the email addresses and telephone numbers provided.

The Secretary General
ICC Bangladesh
Suvastu Tower (56th Floor)
69/1, Pantha Path
Dhaka-1205, Bangladesh.

If you have any queries, please email arahman@icc-bd.org or iccb@bdmail.net or call 880-2862-1942 or 880-29676698.

Ms. Deng Mo
Training Center of CCPIT &CCOIC,
No. 2 Huapichang Hutong,
Xicheng District, Bejing, 100035
China

If you have any queries, please email ctfcchina@ccpit.org or call (+8610) 8221 7209.

 

ICC Indonesia,
Tempo Pavilion 1 building 8th Floor,
Jl. HR. Rasuna Said Kav. 11,
Jakarta 12950
Indonesia

If you have any queries, please email icc@iccindonesia.org or call (+62) 21 29667914

Ms Sangkyung Kim
Korea International Finance Institute
KIFI Building, 50-8,
Toegyero 20 Gil
Jung-gu
Seoul 100-042
South Korea

If you have any queries, please email kifi01@naver.com or call (+82) 2 778 0808.

Frequently Asked Questions

Your registration fee includes the qualification study materials, and the first sitting of your exam and/or coursework. You will also gain access to MyLIBF (our student portal). Some qualifications include a hard copy of the study text, access to student forums, tutor forum support and specimen papers.

If you need to resit your exam or coursework, you will need to register and pay for a resit.

In line with our charitable objectives, we make means-tested bursaries available to students studying our qualifications.

Bursary information

If you would like to apply for a bursary, please email our Student and Customer Services team or call them on +44 (0)12 2781 8609. Please ensure that you have details of the qualification you intend to study when contacting us. 

Recognition of Prior Learning (RPL):
Recognition of Prior Learning (RPL) encompasses a student’s previous non-certificated and certificated achievements obtained through another awarding organisation. This has previously been known as an exemption.

Please read our Recognition of Prior Learning Policy as it explains the steps to take when applying. Your application will need to include certified copies of your qualification certificate or transcript.

We aim to provide an outcome within 10 working days. If we need longer, we will let you know.

Special consideration:
The Special Consideration Policy applies to students who believe they have been disadvantaged during, or before, an assessment because of an injury, illness or other unforeseen temporary circumstance beyond their control that may have adversely affected their performance in one or more assessments.

Please read our Special Consideration Policy as it explains the steps to take when applying. Your application will need to include supporting documentation.

Given the individual nature of special consideration claims, we would recommend that you contact our Student Support team on +44 (0)1227 818609 or support@libf.ac.uk for an informal discussion before you submit your application.

For your claim to be considered, you must have initially notified us of your circumstances on or before the submission deadline for coursework or within five days of the exam date. Any applications made outside of this timescale must include an explanation as to why the delay has occurred.

We aim to provide an outcome within 5 – 10 working days. It may take longer if your application is referred to the Concessionary Board.

Reasonable adjustment:
We are committed to providing an inclusive educational experience for all students, regardless of any disabilities or learning difficulties they may have and realise that, without reasonable adjustment, students may be prevented from demonstrating their true level of ability during an assessment.

Given the individual nature of reasonable adjustments, we recommend that you contact our Student Support team on +44 (0)12 2781 8609 or support@libf.ac.uk for an informal discussion before you submit your request. This will allow us to fully understand the nature of your circumstances and advise you on the type of supporting evidence required.

The Reasonable Adjustments Policy explains the steps to take when applying and has an application form included. Your application must be received, with supporting documentation, at least six weeks prior to the date when the adjustment will need to be in place.

You have 14 calendar days from your course start date to cancel your registration and arrange a refund by calling our Student and Customer Services team. You will need to return any hard copy study texts in its original condition.

After this period all fees are non-refundable and non-transferable.

If you have booked your exam with Pearson VUE (and are within the cancellation period), you will need to contact them directly at least 24 hours prior to the exam date to cancel it. Then allow at least two hours before calling our Student and Customer Services team to cancel the qualification registration and arrange a refund.

Contact Pearson VUE on +44 (0) 370 608 1915 (Europe, Middle East, Africa region).

This is dependent on the type of exam you are sitting.

Multiple choice exams sat at Pearson VUE venues:
Before your registration expiry date you can change your exam date, time or venue, subject to availability. You will need to contact Pearson VUE directly, giving a minimum of 24 hours' notice.

Contact them on +44 (0) 370 608 1915 (Europe, Middle East, Africa region)

Session based (set exam date as per study timetable):
It is not possible to change the date and time unless you defer to a subsequent session for an additional fee. The deadline to defer is 24 hours before your current exam date.

You may be able to change your venue. Please call us at least eight weeks before the exam date to check.

If you are unable to call us eight weeks before the exam, due to mitigating circumstances such as a sudden illness, please call us straight away as you may be eligible for Special Consideration. To be eligible you will need supporting documentation.

Making a result enquiry:
If you believe there has been an error in the marking of your assessment, you can apply for a result enquiry.

The Assessment Result Enquiry Policy explains the steps to take when applying and has an application form included. Your application must be received within 10 working days after we have communicated your assessment results.

This policy does not apply to students who believe their performance during an assessment may have been affected by external factors, for example noise, illness or unforeseen circumstances. These cases are dealt with under our Special Consideration Policy.

Appealing a decision:
You have the right to appeal to us to review decisions that have been made in the course of the assessment of your programme of learning. An appeal may only be submitted in relation to a final decision.

Please read our Appeals Policy as it explains the steps to take when applying, in particular section B 'making an appeal'. Your application must be received within 15 working days after we have communicated the outcome of a decision.

Making a complaint:
A complaint should be made if you are dissatisfied by one of our products or services as soon as possible, but no later than 10 working days from the date of the occurrence.

We deal with all complaints as promptly as possible and within clearly defined timescales. The stages for handling a complaint are listed in our CPQ Complaints Policy.

Contact

For registration and other enquiries please contact Student and Customer Services on +44 (0)12 2781 8609.

FAQs
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