Global banks to collaborate on fighting “pervasive” trade finance fraud
15-03-23 / by John Basquill
The International Trade and Forfaiting Association (ITFA) will lead efforts to cut out double financing...Phoenix Commodities
BCC loses appeal over denied payout to trade finance lender
22-02-23 / by Jacob Atkins
Trade credit insurer Bond and Credit Company (BCC) has lost an appeal against an Australian...
Commodity trades and disputed claims
24-11-22 / by John Basquill
Banks and traders are still trying to claw back lost funds after the collapse of...
Industry cheers live launch of MonetaGo fraud prevention tool on Swift following ICC UK call to action
26-10-22 / by Eleanor Wragg
Financial technology solutions provider MonetaGo has launched its Trade Financing Validation Service into live production...
ICC UK urges action on digitisation in “wake-up call” over fraud
19-10-22 / by John Basquill
The International Chamber of Commerce United Kingdom (ICC UK) is pushing banks and authorities to...
Westford sues insurer over disputed Phoenix trades
05-10-22 / by John Basquill
Westford Trade Services is suing Dubai Insurance Co over losses involving disgraced commodities trader Phoenix,...
Gupta trade finance bank in insurance spat over Phoenix losses
27-09-22 / by Jacob Atkins
A former trade finance lender owned by steel tycoon Sanjeev Gupta has turned to the...
Insurer ordered to pay Australian financier in Phoenix collapse row
06-06-22 / by Jacob Atkins
A court has ordered Tokio Marine’s Australian subsidiary, the Bond & Credit Company (BCC), to...
Documents in Phoenix Commodities trade could be fake, court hears
24-03-22 / by Jacob Atkins
A court in Australia has heard claims that documents underpinning a financing arrangement for collapsed...
Malta’s Fimbank wins judgement against collapsed trader Phoenix
16-02-22 / by Jacob Atkins
The head of collapsed Dubai commodities trader Phoenix has been ordered to pay just over...