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Fraud and Risk Management in International Trade
  • Overview
  • Objectives & Outline
  • Methodology
  • Participant Profile
  • Trainer
  • Overview
    Programme Details
    Date
    1 June 2023
    Time
    9:00 AM – 5:00 PM
    Venue
    Asian Banking School
    HRDC PROG NO
    10001255146
    When doing business in condition of international trade conditions, a stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism to understand the strengths and weaknesses of an operating environment and for strategic investment decisions. In terms of open economy and globalisation trends, businesses face a lot of different challenges within their specific risk; making an effective risk assessment approach and management extremely vital for the economic security of business.
    Learning Level
    Intermediate
    Programme Fees*

    AICB MEMBER

    MYR

    1,600

    / PAX

    NON-MEMBER

    MYR

    1,900

    / PAX

    *Subject to 6% Service Tax

  • Objectives & Outline
    LEARNING OBJECTIVES
    By the end of the programme, participants will be able to:
    • Define what "fraud" means in trade finance
    • Explain the first steps to be taken after a legitimate/suspected trade finance fraud is discovered
    • Understand what a "red flag" consists of in fraud and provide a broad list of what they could be
    • Describe common internal communication tools used to manage suspected fraud, and the risks inherent in each one
    • Understand the concept of legal privilege, and how to obtain and maintain that protection
    PROGRAMME OUTLINE
    ICC Report on Global Risks Trade Finance

    Latest ICC Official Opinions
    • Pitfall of the ICC official opinions and the new ISBP
    • Things to do and not to do
    • Case studies

    Types of Commercial and International Trade Fraud
    • Documentary Letter of Credit Fraud
    • Commodity Fraud
    • Financial Instruments Fraud
    • Case studies (court cases)

    Risks Involved in International Trade Finance: A Banker’s Perspective
    • Low risk because of 3Ss?
    • Country risk
    • Exchange risk
    • Bank risk
    • Customer risk
    • Court injunction/stop payment order
    • Sanction and embargo
    • Money laundering and terrorists financing

    DC Fraud and Scams

    • Fraud

    Characteristics of Fraud/Red Flags
    • Documentary Fraud
    • Commodity Fraud
    • Financial Instruments Fraud
    • Case studies
    • Warehouse Receipt/Warrant Financing under LC
    • Fraudulent Documents
    • Double/Triple Financing under the same Warehouse Receipt
    • Case studies (recent court cases)

    Synthetic LC or Structured Trade Finance
    • Case studies

    Prevention and Mitigation
    • Case studies
  • Methodology
    Interactive group discussions, case studies and sharing of practical experience
  • Participant Profile

    Trade Finance officers (Operations, Trade Sales & Compliance)

  • Trainer

    ZOLKIFLI BIDIN

    Zolkifli Bidin has over 30 years of banking experience, predominantly in Trade Financing and specialising in trade operations and marketing of trade products. He has worked at Maybank, Bank of Commerce and Hong Leong Bank, and as a consultant on the Amal Express Bank Dubai project.

    He has been an Associate Member of the Asian Institute of Chartered Bankers (formerly known as the Institute of
    Bankers Malaysia – IBBM) since 1981 and was on the Board of Examiners for their International Trade Finance programme. He is currently the course tutor for Professional Banker – International Trade Finance.
    He is associated with the Federation of Malaysian Manufacturers and Malaysian Chamber of Commerce and was part of the ASEAN meeting and business talk with South Korea and Turkmenistan. He also participated in the 2014 Trade Finance Course organised by the Bankers' Association for Finance and Trade (American Bankers Association) in New Delhi, India which focused on new developments in international trade, and is well versed in the Foreign Exchange Administration Rules through his involvement in working with Bank Negara Malaysia in the liberalization of the Rules. Zolkifli received his Diploma in Banking from the MARA Institute of Technology (now known as Universiti Teknologi MARA).

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