Welcome to the IFC International Trade Finance e-Learning Direct Enrollment System

If you would like to try our course methodology before you enrol, simply go to the Free Course Demo and click enroll. This will give you the first unit and assessment of the IFC International Trade Finance e-Learning.

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ITS-03-FIT-010 - Trade Finance Fraud Prevention International Trade Fraud is a significant danger for all those involved in international transactions.  A clear understanding of the most common fraud structures is crucial in identifying potential threats to your business. In this unit you will: - Examine the key international trade finance banking rules in respect of bank obligations and now they may impact on occurrence of a fraudulent international trade finance transaction. Firstly we will Outline the key articles of UCP 600 underlying obligations of banks to each other in respect of a facially complying presentation. Then we will Explain the provisions or articles of UCP 600 in respect of banks obligations when documents are not genuine or are falsified. Next we will gain an understanding of how Bonds and Guarantees operate and how Standby Letters of Credit may be used to misappropriate funds and create schemes to defraud banks, individuals or institutions. Having absorbed these concepts we will look at the Bank and Customer Relationship, the profile of the typical fraudster, how to do due dilligence and identify fraudulent transaction profiles. By the end of this course you will be well equipped to identify the most common fraud schemes and have the skills to evaluate transactions and proposals allowing you to discern to a greater degree of accuracy than before if they are genuine or not. In this learning unit the following topics are covered: 1 - Specifics of Trade Fraud 2 - Letters of Credit and UCP 600 3-  Bonds and Guarantees in Trade 4 - The Bank and Customer Relationship 5 - Trade Finance Fraud Prevention 6 - The Fraud Exception and LC Independence Principle Having trouble accessing the course? Email us at support@ebsi.ie or contact us on Skype at ebsikiltimagh and we will help you out!  Read More

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