SEMINAR ‘RECENT DEVELOPMENTS IN INTERNATIONAL TRADE AND FINANCIAL FRAUDS’ Wednesday 27 May 2020, Malietoren, The Hague
Expanding global markets, especially in emerging countries, offer business opportunities for all, including fraudsters and members of organized crime. Fraud in international trade is a risk with costly consequences for all parties involved.
Fraud affects traders, shippers, logistic companies, insurers, banks, and all other parties involved in international trade, transport and banking transactions. It is of vital importance to identify misuse and fraud before it happens, before documents are submitted or payments are transferred.
Mr. Michael Howlett, Director of ICC Commercial Crime Services (London), will clarify how to recognize red flags and criminal behaviour in advance to avoid losses, and explain the different manifestations of fraud in international trade through case studies. In doing so, he will touch upon the risks for all parties involved and how to prevent fraud.
Finally, we will discuss how duped businesses and private parties can recover their assets. How can fraudsters be traced? What are the do’s and don’ts? Based on practical cases, participants will gain insight in which steps to take in asset recovery.
Clearly understand the different types of fraud
Better understand a variety of fraud issues confronting importers/exporters
Benefit from the analysis of case studies on documentary credit and international trade finance frauds
Understand the role of banks in fraud
Learn how to identify and manage the risks associated with fraud
Gain insight in preventing fraud
Michael Howlett, Director ICC Commercial Crime Services (London)
Hugo Verschoren, owner of goVer Trade Technologies, previously with ING, 40 years experience inside and outside Trade Finance (Brussels)
Kees van de Meent, Partner-Attorney at Florent, Dutch member of ICC’s Fraudnet, co-author of the FraudNet Compendium on Asset Tracing and Recovery (Amsterdam)
By Marijke Wolfs, Secretary General, ICC Netherlands
|09.45||Trade Finance Fraud- part 1
Introduction, buyers & sellers at risk, examples, prevention and remedies. What are the traditional trade finance frauds? How do you spot the warning signs? What are risks to buyers and sellers? What are the restrictions and solutions available to victims seeking recompense?
By Michael Howlett
|Trade Finance Fraud- part 2
Banks at risk, BL manipulation and abuse of the trade finance system. Sanctions and the Development of Mis-represented Bills of lading
By Michael Howlett
Risks & consequences for banks offering trade finance services
Recovery of losses
Other cargo and insurance frauds
|Q & A|
|17.00||Concluding remarks, drinks & networking|
Trade finance managers, export and import managers, shipping and logistics managers, in-house counsel, and lawyers engaged in ‘trade finance’ and ‘commercial law’ of insurance companies, shippers, logistic companies and banks
Please contact ICC Netherlands by sending an e-mail with your name, company’s name, address, telephone number and number of participants to: email@example.com Once you are registered, you will receive an invoice.
For questions, please contact ICC Netherlands by sending an e-mail message to: firstname.lastname@example.org
For members: €450,- (excluding VAT/BTW, including lunch and drinks)
For non-members: € 575,- (excluding VAT/BTW, including lunch and drinks)
Please note that, due to the character of the seminar, the number of participants is limited. Registration (on a first come, first serve basis) will close on 20 May 2020, end of day. Registrations cancelled after 22 May 2020 will be charged in full.
Early Bird fee until 6 March
For members: €375,- (excluding VAT/BTW, including lunch and drinks)
For non-members: €475,- (excluding VAT/BTW, including lunch and drinks)