The “Dark Fleet” exposes financial institutions to sanctions violations, lawsuits, and losses. Learn how to mitigate these hidden risks.
DCW maintains a list of recently-decided court cases involving commercial letters of credit, demand guarantees, and other trade finance instruments.
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White Rock, an insurance solutions provider owned by Aon, filed a lawsuit on 27 August 2024 against China Construction Bank
Seventeen customs officials and nine bank employees have been detained in Libya for their alleged involvement in a LYD 1.2 billion (USD 246 million) letter of credit fraud.
The appeal in Zenrock. In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
Strabag, SpA v. Credit Agricole CIB case appeal
India’s Enforcement Directorate government agency has conducted a fresh set of searches against promoters and entities connected to Bhushan Steel Limited (BSL) as part of a money laundering probe related to an alleged INR 56,000 crore (USD 6.7 billion) bank fraud case.
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