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TRADE FINANCE

Fraud, rules and thin margins putting global banks off commodity financing

High-profile cases such as Hin Leong, Zenrock likely last straw for Euro banks, especially since Basel IV regulations took effect, say market watchers

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The collapse of Hin Leong was the biggest scandal in the industry this year, with over 20 banks owed more than US$3 billion.

Singapore

SINGAPORE'S reputation as a trusted commodity trade financing hub has taken a hit of late, with the industry rocked by the recent spate of high-profile fraud scandals the likes of Hin Leong and Zenrock, said industry watchers.

Revelations of fraud were likely the last...

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