DCW Updates
DCW Monthly: September 2025
From London to New Delhi to New York, this issue brings together the latest laws, rulings, and rule-set debates in
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Further to previous DCW reporting of a scam involving use of a bogus document labelled a standby letter of credit and other fraudulent documents (Florida County Defrauded of USD 1.4 Million, DCW Scam Survey, Jul/Aug 2023), one of three men implicated in a scheme to defraud Florida’s Manatee County out of nearly USD 1.4 million has been sentenced to jail and ordered to pay restitution.
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DCW Scam Survey
Man Extradited to US to Face Host of Fraud Charges
A Nigerian man believed to have conspired with others to pursue fraudulent tax return refunds of at least USD 8.
DCW Scam Survey
Zimbabwe Businessman Loses Funds in Standby LC Investment Scheme
Although not near as commonplace as in the 1990s, standby letters of credit are still being pitched as investment instruments.
DCW Scam Survey
Securities Commission Issues Order against Operator of Ponzi-like Scheme
In its Decision, Re Cawaling (2025 ABASC 96), the Alberta (Canada) Securities Commission (ASC) has permanently banned a Calgary resident
DCW Updates
Former Bank Managers Face Charges in Hong Kong Related to False Standby LCs
Hong Kong’s Independent Commission Against Corruption (ICAC) which previously brought conspiracy charges against two ex-bank managers for their alleged