Experts for robust risk management to protect int'l trade
Experts and business leaders have emphasized the critical need for proactive fraud management strategies and robust risk management to protect international trade from the rising threat of financial crimes and maritime fraud. The call was made today during a workshop titled "International Financial Crime: Identifying Risk & Preventing Fraud in International Trade", organised by the International Chamber of Commerce (ICC) Bangladesh in collaboration with the London-based ICC Commercial Crime Services (CCS) of the ICC International Maritime Bureau (IMB) at a hotel in the city, said a press release.
Addressing the closing ceremony as the chief guest, ICC Bangladesh President Mahbubur Rahman highlighted that current global economic uncertainties have escalated risks such as fraud and malpractice in international trade. He warned that the chances of recovering losses from such incidents are often limited, making it essential for bankers, exporters, and importers to understand and prevent modern fraud techniques. Mahbubur Rahman noted that maritime trade remains a cornerstone of economic growth, but rising maritime incidents threaten both seafarers and the stability of global supply chains.
He stressed that ensuring safe passage at sea requires sustained cooperation among regional and international partners to safeguard maritime commerce. The workshop underscored that financial crime is evolving, with fraud and data security threats emerging through diverse channels. While all stakeholders-including consumers and merchants-play a role, the responsibility of financial institutions is the most critical. Mahbubur Rahman urged bankers to adopt latest detection and prevention technologies to mitigate risks before significant damage occurs. A total of 88 participants from 23 banks, including the central bank, along with two participants from the Bangladesh Institute of Bank Management (BIBM), attended the workshop in the city. A similar workshop was held in Chattogram on April 12 (today), attended by 56 participants from 19 banks, including the central bank, along with 18 clients sponsored by Eastern Bank, Mutual Trust Bank and Prime Bank.
