Seminar ‘recent developments in 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.
This seminar touches upon the different manifestations of fraud in international trade through case studies. The risks for all parties involved and how to prevent fraud and how to recover losses will be discussed.
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 (Antwerp)
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
Understanding trade finance fraud Introduction, prevention and remedies. What are the traditional trade finance frauds? What are the different manifestations of fraud in international trade? How do you spot the warning signs? What are risks to buyers and sellers? By Michael Howlett
Recognizing trade finance fraud Steps to take in case of suspicion of fraud. How to recognize red flags and criminal behaviour in advance to avoid losses? Manipulation and abuse of the trade finance system. Sanctions and the development of misrepresented bills of lading. By Michael Howlett
Risks & consequences for banks offering trade finance services Risks to banks and money laundering in trade finance will be discussed. How is the trade finance system manipulated for laundering money? How should raditional due diligence by banks be changed to meet the new threats and how does it effect the corporates. By Hugo Verschoren
Recovery of losses How can duped businesses and private parties recover their losses? How can fraudsters be traced? What are the do’s and don’ts? What are the restrictions and solutions available to victims seeking recompense? Based on practical cases, participants will gain insight in which steps to take in international asset recovery. By Kees van de Meent
Other cargo and insurance frauds
Panel discussion and Q&A
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)
Registration is limited and will close on 20 May 2020, end of day. Registrations cancelled after 22 May 2020 will be charged in full.
Early Bird fee until 16 March
For members: €375,- (excluding VAT/BTW, including lunch and drinks)
For non-members: €475,- (excluding VAT/BTW, including lunch and drinks)