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Op-ed: Trade Finance Industry must Look Beyond Documentation to Beat Criminal Activity

Home > Perspectives > Op-ed: Trade Finance Industry must Look Beyond Documentation to Beat Criminal Activity

International trade finance has yet to factor in the risks that come from money laundering, sanctions evasion, fraud, and terrorist financing, according to an op-ed authored by Exiger Managing Director Nigel Coles and Managing Consultant Martin J. Foncello in The Journal of Commerce. The piece goes on to suggest that trade-based criminality is more likely to be exposed when well-trained screeners take a comprehensive look at all available information for both the transaction details and the trading partners. Firms can take such a holistic approach to trade screening by hiring talented investigators, properly educating staff, imparting a culture of inquisitiveness, and investing in the right due diligence tools. This follows a conference call cohosted by Exiger for RANE’s Insight Series on the “Hidden Risks of Trade Finance”. For more on Exiger’s trade finance advisory services, click here.

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