This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
A webinar hosted by the Association of Trade Finance Compliance Professionals (ATFCP) on 28 January 2025 featured particular focus on court cases involving sanctions and fraud matters leaving an imprint on the area of compliance. Topics addressed and take-home points included:
Know Your Customer. Although a basic principle of compliance, banks still seem to struggle putting it in practice. Banks get comfortable with customers and do not always ask the right questions or frame questions to get answers they want to hear. Small frauds can slip under the radar and eventually grow to big frauds and major losses.
This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
Four years after the Association of Banks in Singapore (ABS) roll out of a “Code of Best Practices – Commodity Financing”
Most specialists in the trade finance industry are well aware of multiple court cases in recent years – many from Singapore
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