On detecting and combating fraud

Aaron Hughes, Account Director, RiskFactor Solutions, talks about how lenders can detect and combat fraud, following a string of high profile cases in recent months.

INCOTERMS Rules – for revenue recognition or dispute mitigation?

The International Chamber of Commerce (ICC) International Commercial Terms (INCOTERMS) are a codified internationally recognised set of delivery terms, created to facilitate and support international trade. Unfortunately too many of our clients (sellers) are vague about delivery terms and fail to understand the importance of these rules until it is too late or, see their importance more as a revenue recognition tool.

A lesson of vigilance? – Banamex falls foul of fresh air

When a company's back is to the wall, passing fresh air invoices to their factoring provider usually starts as a one off to get them through a tight period, a temporary lack of working capital, unfortunately it rarely stops there. Citigroup s Mexican subsidiary Banamex are one of the latest providers of receivables financing to fall foul to such fraud. Trfnews looks at how and why invoice fraud is able to happen.