Understanding of criminal operation, risk mgmt a must for FI officials: ICCB chief

Staff Correspondent | Published: 00:05, Jul 12,2018

 
 

Officials of financial institutions must have strong understanding of criminal operation and risk management to safeguard against various digital crimes, said International Chamber of Commerce Bangladesh president Mahbubur Rahman.
He made the comment at a workshop on ‘changing faces of international trade fraud: current risks, prevention and responses’ organised by the ICCB in Dhaka on Tuesday.
Mahbubur said strong understanding of criminal operation and risk management is crucial for the financial institutions as fraud and data security threats have many different forms and different channels.
‘With knowledge, along with a strategic plan, there is a better chance of mitigating risk and recognising attacks before they do serious damage to institution,’ he said.
‘In all cases, it requires taking steps that help improve your institution’s ability to detect threats before they reach your customers,’ Mahbubur said.
Smooth commercial transaction and international trade requires strong legal support by conducting due diligence on VAT, tax, customs related matters that are prone to digital crimes, he added.
ICCB executive board member Fazlul Hoque, director and chief of ICC-Commercial Crime Services P Mukundan and ICCB secretary general Ataur Rahman also spoke on the occasion.
A total of 193 participants from 37 commercial banks attended the workshop in Dhaka and 74 participants from 29 commercial banks attended an ICCB workshop on the same issue held in Chittagong on Wednesday. 

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