Analysis: Oil collapse leaves Singapore traders scrambling
By 
Martin Woods2020-05-12T13:04:00
Recent fraud complaints at oil traders in Singapore highlight the risks in the international business of commodity finance, where high prices provide high rewards and low prices can leave lenders exposed.
Related articles
-
ArticleAnalysis: How to handle the heat of boiler room fraud
Financial crime expert Martin Woods explains how compliance professionals can do their part in rooting out boiler room/investment frauds, citing a recent story from a call center in Kiev.
-
ArticleAnalysis: The problem with keeping a secret
You can’t hide behind the numbers, as numerous banks, including Bank Hapoalim, found out recently when rampant tax evasion took hold in Switzerland.
-
ArticleCyber-criminals have supply chains, too
All cyber-attacks leave a trail. These trails can be complex, of course, but the criminals cannot avoid them. Thus, they leave a supply chain of intelligence and data.
More from Risk Management
-
News BriefCOSO’s draft corporate governance framework provides roadmap to compliant business practices
Corporate governance is, all too often, handed down from generation to generation. Like a well-worn jacket, it works great—until it doesn’t. Typically, it is a crisis that forces companies to reassess their corporate governance framework, as gaps are filled and poor policies rewritten. But it doesn’t have to be that ...
-
News BriefInvestment scammers, other fraudsters scored billions from consumers in 2024, FTC reports
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
-
News BriefPortuguese bank ousts chief risk officer after ‘suspicious’ transactions uncovered
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.