PREVENTIVE MEASURES TO MITIGATE THE RISK OF FRAUD IN LETTERS OF CREDIT TRANSACTIONS IN MALAYSIA

PREVENTIVE MEASURES TO MITIGATE THE RISK OF FRAUD IN LETTERS OF CREDIT TRANSACTIONS IN MALAYSIA

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This article attempts to analyse the issue of fraud in letters of credit (LC) transactions, also known as documentary credits. There are numerous reported cases of fraud in LC transactions, which remain a continuing risk. The UCP 600 is a popular standard of practice for banks, which confirms that b...

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Bibliographic Details
Main Authors: Rushmila Bintay Rafique, Vijayalakshmi Venugopal
Format: Article
Language:English
Published: UUM Press 2021-01-01
Series:UUM Journal of Legal Studies
Subjects:
letters of credit (lc)
fraud
ucp 600
malaysia
preventive measures
Online Access:http://e-journal.uum.edu.my/index.php/uumjls/article/view/uumjls2021.12.1.2

Internet

http://e-journal.uum.edu.my/index.php/uumjls/article/view/uumjls2021.12.1.2

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