Fraud in Letter of Credit and its Preventive Measures
ABSTRACT：
Along with the world economics boom and high technology development ,letter of credit has became a major means of payment in the international trade .But by exploiting the characteristics of the transaction with L/C ,some outlaws colluded together and fiercely committed cheating behaviors in all the operative parts of L/C ,which cause a lot of economic loss to the persons who are entitled to the rights of L/C, and also brought damage to the bank’s credit ,destroyed the order of the transaction. Base on the analysis to the letter of credit cheating way and reasons, this article proposes corresponding presentation measure.
KEY WORDS： Letter of credit; fraud in L/C; preventive measures
