The International Chamber of Commerce (ICC) will organise a one-day workshop in collaboration with the Trade Development Authority of Pakistan (TDAP) on "Trade and Financial Fraud Prevention," on November 1.
The aim of workshop is to acquaint the traders, stakeholders and government officials with the issues like money laundering, non-payment, trade and financial frauds etc. TDAP is jointly holding this workshop with the ICC-Commercial Crime Service, which is the business community's own crime detection and prevention service.
ICC has shielded companies from falling victim to wide range of crimes affecting business for over 25 years detecting frauds, carrying out investigations and assisting victims and recover their losses, they maintained.
Potterngal Mukundan, Director-ICC Commercial Crime Service and Peter Lowe, Assistant Director-ICC Counterfeiting Intelligence Bureau will be the main speakers at the workshop to discuss matters in detail, the officials apprised.
During the workshop issues including international trading frauds and their prevention and control, frauds against banks, breaking into a container, types and theories of fraud, cyber crime, systematic and organised frauds, insurance frauds, scuttling of vessels, fraudulent P & I and cargo claims will be highlighted.
The workshop will also discuss vulnerabilities in the system and its exploitation, piracy, maritime trade risk, hijackings and phantom ship frauds, the theft of shipload of cargo and their prevention and recovery etc.
Frauds has gone up manifold in the world trade in terms of money involvement as compared to the past, while new methodologies of crimes are being applied to extract maximum through frauds across the world, they said.
Keeping in view the rapid growth of information technology across the world, the vulnerability of trade has also increased to criminal attacks due to which companies always remain at risk, they added.