Letter of Credit Fraud

Abstract

In spite of built‐in checks and due diligence procedures adopted and implemented by governmental agencies, financial institutions and insurance companies, nothing can prevent human ingenuity from breaching those barriers in order to commit financial fraud. A recent case detected by the Directorate General of Revenue Intelligence (DRI), India, having international ramifications, is a pointer to many such frauds that might have been committed and have gone undetected for many years.

Citation

Kumar, B.V. (2000), "Letter of Credit Fraud", Journal of Financial Crime, Vol. 7 No. 3, pp. 251-254. https://doi.org/10.1108/eb025944