How to Detect Footprints in Fraudulent L/C Documents for Bankers? 銀行如何及早察覺信用證提示單據有詐騙跡像？ (T. O. International Trade Seminars)

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Do the following situations exist in your bank?
以下情況是否亦在貴銀行出現？

• There is at least one fraudulent presentation each quarter that cannot be identified by the document checkers.
• Some fraudulent presentations make the bank lose millions of dollars.
• The negotiating banks always claim that they have negotiated the drafts in good faith and the bank is obliged to reimburse them.
• Afterwards, the bank may be aware that the Applicant and the Beneficiary are in fact from the same gang.
• The document checkers consider that fraudulent presentations are unavoidable, no matter how careful they are in examination of presented documents.
• The bank pretends that the fraudulent presentations never happen at all to outsiders.

Introduction   課程簡介

Fraudulent letters of credit and fraudulent documents are plaguing bankers every year, resulting heavy financial losses for the banks and their customers. After the economy of Hong Kong is hit by the collapse of the real estate market and further aggravated by the mediocre performance of the Government after 1997, fraudulent L/C and fraudulent documents are increasing at an alarmingly rate and yet very few L/C fraud cases are reported each year. The reason is simple. The victims, particularly the bankers, are not willing to expose their fraud cases for fear of bad publicity.

We have the honour to invite Mr. T. O. Lee of Toronto to share with bankers in Hong Kong his personal experience and effective means to detect fraudulent documents, demonstrated by recent L/C frauds cases from Hong Kong, Macau, China, Taiwan, Korea, Malaysia, Middle East, Canada and USA. According to Mr. Lee, fraudsters always leave some footprints in the documents. The name of the game is whether bankers can identify those footprints before they pay out their money. Mr. Lee has close working relationship with ICC Commercial Crime Services of London in fraud cases in Hong Kong and Toronto. Trainers from banks should not miss this golden opportunity to acquire Mr. Lee's unique fraud detection techniques which they cannot obtain from other sources.

Contents Outline   主要內容

• The Professional Fraudsters: The Nigerian School & the "L/C Brokers" in the Far East
• The Fraudsters Networking: L/C Promoters, Rich Applicants, and Poor Buyers
• Frauds Franchisees: the Fraud Master, the Fraud Manual, and the Franchise Market
• The Amateur Fraudsters: the Hit and Run Spices & the Ten Year Trading Partner Spices
• How to Detect Footprints Left by the Fraudsters in Fake Bills of Lading, Air Waybills, Charter Parties, Certificate of Inspection and Certificate of Origin?
• How Could An Issuing Bank Defend Itself Against Reimbursement Claims from the Beneficiary's Banker Who Claimed to Have Negotiated the Documents in Good Faith?
• Case Studies (Participants to identify footprints in real life fraudulent documents with model answers and learning points provided afterwards):
  1. The Electric Calculators Case from Japan
  2. The Back-to-Back L/C Case from Korea.
  3. The One Shipment Real and One Shipment False Case from Hong Kong.
  4. The 20 Million USD Credit Case from Turkey.
  5. The Drilling Machinery Case from Germany.
  6. The Frozen Fruits Case from USA.
  7. The Sugar Trade Case from China.

Appendix   輔助資料

Besides the course material, each participants will be given a copy of

• Real life fraudulent presentations with names of parties removed.
• The "Solo" class fraud cases in Middle East and Korea.
• Highlights of L/C fraud cases resolved.
• Related articles by T. O. Lee in ICC, 信報 & Lloyd's of London publications

Methodology   個案研討

Highly interactive workshop, using as case studies, real life fraud dispute cases taken from the speaker's work file with sensitive details removed to protect the privacy of clients.

Delegates Profile   課程對象

• Document Checkers, Supervisors and Managers from banks
• Export / Import Managers & Supervisors in trading firms
• Documentation Managers in freight forwarding services
• Chief Finance Officers from international trade corporations
• Lawyers providing trade finance services

Speaker 講師

Mr. T. O. Lee （李道安先生） FAE, MCIArb, MITD

Duration

One-day workshop

 

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