Tips on Avoiding Fraud Around the World

Posted by: Doug Bruhnke on Friday, October 26, 2018

On this recent globinar at Global Chamber, we covered the issue of financial fraud and how members can avoid it in their business dealings around the world.

Watch the discussion HERE on youtube.

Bill Papazian of Lightstone Solutions kicked things off with an overview and more details on how to do due diligence on international business partners and major customers in order to avoid Foreign Corrupt Practices Act (FCPA) liability. Bill and his team do this for their clients all around the world, and so he provided tips and some examples of how their clients have avoided issues, and how some other companies got into trouble. It's so much better to know about problems ahead of time!! Bill is shown on the right of the picture shown here.

Sarah L Bonner of the U.S. Small Business Administration (SBA) went next and discussed fraud prevention for SMEs when doing international trade. Sarah has seen her share of people avoiding trouble, and others getting into trouble... like when a shipment is seized in a foreign port because the proper customs work wasn't done on the home end. Once these issues arise, often there is nothing that can be done to save the situation, and so it's important that exporters are compliant. Sarah shared a presentation that is available for members.. contact us at info@globalchamber.org for those slides. Sarah zoomed in from her office in Washington, DC.

Finally Kendelle L Lord of BMO Harris Bank shared information on the World Wide Web of deceit: the fraud landscape and how to mitigate risks. Kendelle shared information on wire fraud, ACH debit fraud and other techniques that people use to cheat businesses. She also discussed how BMO Harris prepares their clients for worst case scenarios and reduces risks by implementing fraud prevention systems by the bank, and recommending processes for their clients. Kendelle is shown on the left of the picture above.

Watch the video at the link above, and check out upcoming globinars HERE.

To contact any of the speakers, contact us at info@globalchamber.org. 

Biographies

Bill Papazian - CEO & Founder of Lightstone Solutions.  Bill is a seasoned regulatory compliance and investigative professional with over 30 years of relevant experience since he began his career in 1986. William Papazian's experience includes International Due Diligence, Compliance, Investigation, Background Checks, Foreign Corrupt Practices Act (FCPA) Compliance, Third Party Vetting, Vendor Due Diligence, Gaming Regulatory Compliance, Title 31 Compliance, Tribal Gaming Commissions, and International Corporate, Commercial, Finance and Transactional Affairs. He also specializes in internal investigations, programmatic audits of Tribal Gaming Agencies and other Tribal non-Gaming governmental agencies and businesses, and start up Tribal Gaming Commissions. All services are GDPR complaint.

Topic: Due diligence on international business partners and major customers in order to avoid Foreign Corrupt Practices Act liability. 

Sarah L Bonner - Sr. Int'l Trade Policy at U.S. Small Business Administration. Sarah has over 16 years of experience in international trade and policy, serving in multiple U.S. executive branch agencies, the private sector, and a U.S. industry association. She has participated as a U.S. delegate in trade agreement negotiations, leading most recently for SBA on Rules of Origin, Customs and Trade Facilitation and the Small and Medium Enterprise Chapter in the U.S.-Mexico-Canada Agreement (USMCA).  Ms. Bonner represents SBA in USTR-led Trade Policy Staff Committee groups, the U.S. National Trade Facilitation Committee, and the U.S.-UK Trade and Investment Working Group.  In the private sector, Ms. Bonner led a global transaction support portfolio assisting teams in securing over $17.5 billion in sales, worked globally to help resolve complex international trade issues, and assisted in market entry strategies. Ms. Bonner received an M.A. in International Trade Policy from George Mason School of Public Policy, and a B.A. in History from Boston College. She has an Academy of WTO Law & Policy Certificate from the Institute of International Economic Law and has completed professional training at the GE Management Development Institute.

Topic: Fraud Prevention for SMEs When Doing International Trade

Kendelle L Lord - VP of Treasury & Payment Solutions, BMO Harris BankKendelle Lord joined BMO Harris Bank in 2015 as a Senior Treasury Sales Professional in Business Banking.    Her 16 years of banking experience has included Retail, Commercial, Private Bank, Dealer Commercial Services, and Business & Cross-Boarder Banking.   Her career has included sales production, cross selling, and business development on businesses with revenue of $1 million to $50 million in annual sales.  Kendelle enjoys spending time hiking, traveling, and watching Arizona sports with her twin 11 year-old daughters.  She serves and volunteers for the Spina Bifida Association of Arizona.  This passion stems for one of her daughter’s constant challenges with this disability.

Topic: The World Wide Web of Deceit: Fraud Landscape and How to Mitigate Risks

 

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