As the global association of the trade credit insurance and surety industry, we are committed to promote best industry practice, financial stability and the prevention of financial crime and respect for regulatory compliance and conduct in receivables finance. In this context, we are always keen to look at solutions and guidelines that best protect our members and the industry from losses.

The scourge of fraud in trade finance is a global challenge that demands solutions. The losses incurred by financial institutions (and thus insurers) due to duplicate financing and fraudulent documents threatens the very fabric of trust within the trade finance ecosystem. The repercussions of unchecked fraud are far-reaching, with consequences that extend well beyond financial losses, impacting the availability of credit and stifling economic growth.

Against this backdrop, emphasis on collaboration, technology, and regulatory measures emerges as a beacon of hope. MonetaGo has experience in delivering such solutions and their broad industry collaboration across many jurisdictions around the world has resulted in a compelling solution which adheres to a global standard for trade finance fraud prevention.

Please find below the link to access the paper made by MonetaGo on Digital Implications of Detecting Fraud in Trade Finance