Free Trade Zone

Free Trade Zone Risk Assessment Tool

This Free Trade Zone Risk Assessment tool enables businesses to assess their exposure to the risk of facilitating illicit trade or financial crime in any FTZ. Distinguish between FTZs that already comply with international standards and those that do not and dispel the perception that all FTZs are always high-risk.
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Using this tool

Understand how likely a Free Trade Zone is to be exploited for criminal purposes by using this tool to rate a list of risk factors. It offers an assessment framework, a list of suggested data sources and examples of using the tool.

It aims to facilitate a well-informed view of an FTZ’s criminal vulnerabilities and mitigation measures. The assessment will result in an overall risk score that can be used by compliance professionals as a supplement or alternative to country risk scores.

Watch the video to learn more about this tool.

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Who is this tool for?
This tool is intended for businesses who: operate in Free Trade Zones; have customers who operate in a Free Trade Zone; or otherwise facilitate trade involving a Free Trade Zone.
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Data Sources
Suggested data sources help users identify relevant information about Free Trade Zones and countries concerned. Their use is not mandatory, and users are encouraged to rely on their own experience.
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Sample Assessments
The examples below show how to use the assessment framework and suggested data sources.
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The terms ‘Free-Trade Zone’ (FTZ), ‘Free Zone’, ‘special economic zone’ and ‘freeport’ are often used interchangeably. At the most basic level, they refer to a geographic zone where customs duties are not collected.
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The only set of international standards in relation to crime prevention in FTZs is the OECD’s Code of Conduct for Clean Free Trade Zones, which forms part of the Recommendation of the Council on Countering Illicit Trade: Enhancing Transparency in Free Trade Zones.
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Depending on the nature of your activities, your organisation can be unwittingly helping a customer move illicit goods or earn, move or spend the proceeds of crime.

It is likely that your organisation is required to mitigate the risk of this happening under applicable laws, such as anti-money laundering/counter-terrorist financing (AML/CTF) rules, and your own policies. A failure to do so will give rise to legal or reputational risks.

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