GPF Executive Workshop on Trade Finance Fraud & Prevention,March 19-20,2019 Singapore

GPF Executive Workshop on Trade Finance Fraud & Prevention,March 19-20,2019 Singapore

Date(s) - 19/03/2019 - 20/03/2019
9:00 am - 5:00 pm

Pan Pacific Singapore

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GPF Executive Workshop on Trade Finance Fraud & Prevention, March 19-20,2019, Singapore

xFraud.jpg.pagespeed.ic.bK5OV4ywdvDear 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 = LONECO
    Trade 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
    • Documents
      • 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

  • 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 19 Feb 2019: The ‘Early Bird’ Rate is SGD3095 – Save SGD400!

Special Offer! – 3 Delegates For The Price of 2 in This Category! Save SGD3095!

From 20 Feb 2019: 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.


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