visimoney
TLDR:
- Factoring, invoice financing, and open account methods are crucial for the global economy.
- Regulatory measures, innovation, and public-private partnerships are essential in combating fraud in the financial sector.
In the article “Football, factoring and fraud: Kicking out the bad actors, creating rules and standards,” Neal Harm and Neil Shonhard discuss the similarities between football and factoring, highlighting the importance of these financial mechanisms for businesses to manage cash flow and liquidity. They also emphasize the role of associations like FCI in developing rules and standards for the industry. The article delves into the need for strong regulatory measures and innovative solutions to prevent fraud in global trade finance, citing examples like MonetaGo’s fraud prevention solution in India. Public-private partnerships are also explored as a key strategy for combating financial fraud and fostering innovation in the financial sector. The authors advocate for continued collaboration and the adoption of advanced technologies to create a transparent and resilient market environment for international trade.
