The Risk of Trading Fraud Today - Identifying & Preventing Fraud in International Trade

The seminar with a leading expert on the trade finance fraud prevention – the director of ICC International Maritime Bureau.

Trade finance fraud is a real risk – which has been many times proven. In recent years there have been many massive frauds in the commodity trade finance in Asia, often including fraudulent bills of lading and other shipping documents. Join us for the couse to learn about main techniques of fraud, recent fraud cases and how to prevent to become – or your customer – a victim to it!

This Seminar is a must for:

For bankers (particularly trade finance), trading companies, ship-owners, insurers, lawyers and academics - Heavily based on practical real life case studies

• Trade Finance Fraud
• Buyers and Sellers at Risk
• Banks at Risk
• Financial Crime and Compliance

Program:

08:30 Registration

09:00 Welcome address by ICC CZ

09:10 Introduction to IMB & CCS

09:30 Trade Finance Fraud – Buyers and Sellers at Risk

• Introduction
• Buyers and Sellers at Risk, types of frauds
• Systematic fraudsters identified
• UCP600 and fraud – an analysis
• Prevention and control

11:00 Tea – contact break

11:20 Trade Finance Fraud – Banks at Risk

• Risks to Banks – buyers and sellers in collusion
• Identifying patterns and the prevention of fraud
• Formulating a meaningful response
• Identifying transactions breaching the sanctions regime – control and consequences
• Money laundering in trade finance
• The NVOCC Register & operative documents
• The changing face of Trade Finance Fraud

12:30 Lunch

13:30 Trade Finance Fraud – Banks at Risk (cont)

14:40 Coffee

15:00 Other Transportation Risks

• Container & cargo crime
• Update from the IMB Piracy Reporting Centre

16:00 Q & A / Wrap Up

16:30 Close

Speaker:

Michael Howlett - Director, ICC International Maritime Bureau

Michael joined the ICC-International Maritime Bureau (IMB) in May 1994 and has over 25 years’ experience in trade finance fraud. He closely co-ordinates with the IMB’s banking, shipping, insurance and trading company members with regards to loss prevention and advice.

Michael has been instrumental in identifying systematic international fraudsters, invited to provide evidence and appear as a witness in trade related criminal cases and assisted in the investigation of the largest fraud in trade finance history. As part of his duties Michael has also investigated a number of cases worldwide relating to cargo losses, the suspicious sinking of vessels and their cargoes and the phenomena known as phantom ships.

He has travelled on investigations to a number of countries, spoken at numerous conferences and seminars worldwide and written papers on areas connected with the subject of piracy, fraud and malpractice in trade finance and international trade.

In January 2020, Michael became the CEO of ICC Commercial Crime Services – the anti-crime unit of the International Chamber of Commerce – of which IMB is a part.

Event registration fees:

6.500,- Kč (incl. 21 %VAT) per person

• Standard discounts applicable for members off the ICC Czech Republic.
• Registration for the event is binding, no refund.