Sunday, February 24, 2019 | ePaper

ICCB for strong understanding of trade fraud, risk management

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Business Desk :
International Chamber of Commerce Bangladesh (ICCB) President Mahbubur Rahman said strong understanding on criminal operation and risk management is crucial for financial institutions since fraud and data security threats come in so many different forms and different channels.
"With knowledge, along with a strategic plan, there is a better chance of mitigating risk and recognizing attacks before they do serious damage to institutions," he said at the closing ceremony of 'ICC Workshop on Changing Faces of International Trade fraud: Current Risks, Prevention & Responses' held in the capital on Tuesday, said a press release on Wednesday.
The Workshop was organized by the Bangladesh National Committee of International Chamber of Commerce (ICC), the world business organization.
The ICCB President said in some cases, this may mean investing in new technologies; in others, bridging organizational silos and training staffs.
"In all cases, it requires taking steps that help improve your institution's ability to detect threats before they reach your customer," he added.
Mahbubur said Bangladesh is the 33rd largest economy in terms of GDP while it is the 2nd largest RMG producer of the world.
"Certainly the country has made its name as 'Emerging Tiger' in South East Asia contributing in developing all related service industries which includes shipping, freight forwarding, custom clearance, commercial banking and legal service industries," he added.

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