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GPF Executive Workshop on Trade Finance Fraud & Prevention, 18-19 Sept 2018, Singapore


GPF Executive Workshop on Trade Finance Fraud & Prevention, 18-19 Sept 2018, Singapore

GPF Executive Workshop on Trade Finance Fraud & Prevention, 18-19 Sept 2018, Singapore

GPF Executive Workshop on Trade Finance Fraud & Prevention, 18-19 Sept 2018, Singapore
Dear colleagues
This introductory course will provide practical ideas to manage operational losses and reputational risk caused by trade finance fraud. Upon completion, you will be familiar with common fraudulent schemes that exist in trade finance, including red flags and triggering events that warrant further investigation. .  Participants will learn from case-studies how to mitigate risks in frauds in relation to trade.
Target Audience
General practitioners working in banks, corporates, or financial institutions in functions such as Relationship Management, Credit, Compliance, etc.
Course outline
Risks assessment
Different types of risks in trade finance

Micro risks
Transit risk
Country risk – The Infamous Monday in Brazil
Bank risk
Currency Exchange risk
Commercial risk
Documentary risk
Political Risk


Transaction Risks


Hidden risk – Fraudulent Trade Based Schemes – Case Study
Over-Invoicing For Goods = LONECOTrade Finance Fraud of the decade
Under Invoicing
Multiple Invoicing
Short Shipping
Over Shipping
Type of Goods
Phantom Shipping
Claim Under a Performance Bond – Who is at Fault?

Red Flags & Triggering Events – Examples

Risk indicators
Low Value, High Volume Serial Fraudster
Carousel transactions
Deviation frauds

Engaging Key Players
Strong and adequate investigations on  contracting parties (carriers, charterers, shipping agents, insurer, trading partners or counterparties of the customer including buyers, sellers, shippers, consignees, notifying parties,
Managing Communication & Reporting regarding (Case study on role of NVOCC)

beneficial owner, commercial operator and registered owner of the vessel involved in the transaction to trace the history of former ship owners with focus on country of residence
port of loading, ports-of-call and port of discharge (including whether the goods originate from, or are sold
trade routes proposed to be used;
market prices of goods such as commodities to assess if further information should be obtained where the contract price differs significantly from the market price to mitigate financial crime risk.


Transaction Review – Sales Contract and Documentary Credit

Relevant information available in a DC transaction

Parties involved
Matching end buyer’s and end seller’s terms before concluding deal


Complying with terms and conditions of both import and export LC
Documents inconsistent among themselves
Information contained therein do not conflict

Instructions – Gript-v-boi-and-ib-2016

Unusual payment instruction given by buyer and seller
Review names in payment instructions, including names of banks

Trade Finance Blockchain

Transaction Screening  – Banque Nationale de Paris v Credit Agricole Indosuez[2000]

Acceptance Letters of Credit issued by buyer
Lists of names, entities, persons or countries, charterers, carriers
Training employees for effective screening

Transaction Monitoring

To review completed or in progress transactions for presence of unusual or potential suspicious features

Duration: 2 days  (9.00 am – 5.00 pm)

TEACHING Methodology
lecture, case studies and Q & A
About the Course Director
Olivia Chan has more than 25 years of experience in stand-up lecturing and training for foreign universities, training institutes and banks in area of finance.
She was awarded Fellow (the highest grade of membership) by Chartered Institute of Bankers’ Council (UK) giving recognition to status in banking profession and commemorating contribution to the important area of banking education.
She have designed, developed and evaluated training programs for specialized finance courses to management and personnel from different sectors of industries: banks, government departments, public listed and private companies and trained more than 10,000 participants in various programs.
Current freelance corporate trainer for

Singapore Shipping Association (since 1994)
Dun & Bradstreet (S) Pte Ltd (since 2008)
Institute of Singapore Chartered Accountants (since 2015)
Singapore Business Federation (2015)

On or Before 18 Aug 2018: The ‘Early Bird’ Rate is SGD3095 – Save SGD400!
Special Offer! – 3 Delegates For The Price of 2 in This Category! Save SGD3095!
From 19 Aug 2018: The Regular Rate is SGD3495
Special Offer! – 3 Delegates For The Price of 2 in This Category! Save SGD3495!
Note: All fees stated include luncheons, refreshments and complete set of documentation. It does not include the cost of accommodation and travel.
To register, please submit the following details to dGhvbWFzbmcgfCBnbG9iYWxwb3J0c2ZvcnVtICEgY29t:
Name:Position:Organisation:Address:Tel:Fax:Email:What Best Describes Your Industry Sector?:
Billing information:
For cheque payments: To be made payable to ‘Global Ports Forum Pte. Ltd.’ Please do not send post-dated cheque.
For telegraphic transfers:
Account Name:             Global Ports Forum Pte. Ltd.,
Account No. :                695 477 141 001.
Beneficiary Bank:          Oversea-Chinese Banking Corporation Limited, Singapore. (Swift: OCBCSGSG),
Address : 65 Chulia Street #01-00, OCBC Centre, Singapore 049513.
Please supply confirmation via email of the TT from your bank. Transmitting bank charges must be paid by sender. Please quote both delegate and company name as reference.
Kindly note that as we are providing a special rate for ‘early bird’ sign up, we will need to receive your company payment by 18 Aug 2018 to enjoy the discount.
We forward to welcoming you at the executive workshops/forums!
Kind regards
Thomas Ng
The Global Ports Forum
10 Anson Road
International Plaza
Singapore 079903
Website: www.globalportsforum.com/
Mobile: +65 9684 3289
DID:    +65 65197662
Fax:    +65 6725 8438
Email:  dGhvbWFzbmcgfCBnbG9iYWxwb3J0c2ZvcnVtICEgY29t
Terms & Conditions:
No delegate registration will be accepted without completing registration details and full payment.
Upon receipt of your registration details and full payment, further programme information will be emailed to you including your proforma invoice and, if required, a letter of invitation for entry visa application.
Delegates will not be admitted unless payment has been received in Full.
Flights, Airport Transfers and Accommodation are not included in your delegate registration fee.
Refund Policy – a reimbursement of the registration fee, minus administrative charges will only be made if the participant has notified Global Ports Forum Pte. Ltd. in writing that he/she is unable to attend the event no less than 45 days prior to the commencement of the event. No cancellation is allowed after that, but a replacement with another participant is allowed.
This programme is subject to change without notice, E&O.E

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