Bills of lading fraud highlights value of IMB database

摘要

NEW variations in bills of lading(BLs) fraud can be hard to spot byfinancial institutions, leaving themexposed to potentially suspect orillegal transactions.As a recent case involving multiplesets of BLs has shown, some 20banks were left with losses totallinghundreds of millions of dollars as aresult of financing a Singaporetrading company believed to bethe perpetrator of the scheme.