Published: 11:52 AM, 14 April 2026
Experts and business leaders for robust risk management to protect international trade
Experts and business leaders have emphasized the critical need for proactive fraud management strategies and robust risk management to protect international trade from the rising threat of financial crimes and maritime fraud. The call was made today during a workshop titled "International Financial
Crime: Identifying Risk & Preventing Fraud in International Trade", organised by the International Chamber of Commerce (ICC) Bangladesh in collaboration with the London-based ICC Commercial Crime Services (CCS) of the ICC International Maritime Bureau (IMB) at a hotel in the city, according to a press release.
ICC Bangladesh President Mahbubur Rahman attended the workshop as the Chief Guest at the closing ceremony and distributed certificates among the participants. Workshop resource persons Michael Howlett, CEO of ICC Commercial Crime Services (CCS) and Cyrus Mody, Director of ICC CCS and Deputy Director of IMB, along with ICC Bangladesh Secretary General Ataur Rahman, also spoke during the closing session.
He warned that the chances of recovering losses from such incidents are often limited, making it essential for bankers, exporters, and importers to understand and prevent modern fraud techniques.
Mahbubur Rahman noted that maritime trade remains a cornerstone of economic growth, but rising maritime incidents threaten both seafarers and the stability of global supply chains. He stressed that ensuring safe passage at sea requires sustained cooperation among regional and international partners to safeguard maritime commerce.
The workshop underscored that financial crime is evolving, with fraud and data security threats emerging through diverse channels. While all stakeholders-including consumers and merchants-play a role, the responsibility of financial institutions is the most critical.
Mahbubur Rahman urged bankers to adopt latest detection and prevention technologies to mitigate risks before significant damage occurs.
In his closing remarks, ICCB President Mahbubur Rahman stated that current global economic uncertainties have increased various risks in international trade, including fraud and malpractice. He emphasised that the chances of recovering losses from such incidents are limited. Therefore, bankers, exporters, and importers need to understand the types of fraud prevalent today and how these can be prevented.
He further noted that maritime trade remains a cornerstone of real economic activity and growth. The rise in reported maritime incidents underscores the importance of protecting seafarers and securing key shipping routes—not only for crew safety but also for the stability of global supply chains and dependent economies. Ensuring safe passage at sea requires sustained cooperation among regional and international partners to safeguard maritime commerce.
Highlighting the evolving nature of financial crime, he said that fraud and data security threats now emerge in multiple forms and through diverse channels. It is therefore crucial for financial institutions to develop a strong understanding of how criminals operate and how risk management practices are evolving. With such knowledge, supported by a strategic approach, institutions can better mitigate risks and identify threats before they cause significant damage.
While there is no single solution to completely eliminate fraud, all stakeholders—including consumers, merchants, and financial institutions—have a role to play in its prevention and detection. However, the role of financial institutions remains the most critical. Bankers, therefore, must adopt proactive and robust fraud management strategies, utilising the latest detection and prevention technologies.
A total of 88 participants from 23 banks, including the central bank, along with two participants from the Bangladesh Institute of Bank Management (BIBM), attended the workshop in Dhaka. A similar workshop was held in Chattogram on 12 April (today), attended by 56 participants from 19 banks, including the central bank, along with 18 clients sponsored by Eastern Bank, Mutual Trust Bank and Prime Bank.
