Reply To: How may I safeguard my business from trade finance fraud?

The following determiners should help  you to safeguard your company from trade finance fraud 1. Application: Foreign agents may try to distort or ignore the identity of involved parties in the application process. 2. Suspicious Financial Statements: Financials are fabricated in order to boost working capital, sales, or receivables. 3. Pro forma Invoices: Queries for quotations or descriptions are created in order to acquire the letterhead or logo of a genuine supplier. 4. Commercial Invoices: Commercial bills are overvalued to make income for the creditor and hide the need for required down payment. 5. Bills of Lading: Exporters and shipping companies may modify or falsify bills of lading.