What is a Bill of Lading, and How Do I Verify One?

As regulators crack down on maritime trade, the need to tackle trade-based money laundering (TBML) and documentary fraud has been compounded. Due to the outdated and paper-based processes of the maritime industry, false documentation is relatively easy to produce, costing financial institutions millions of dollars of lost revenue due to documentary fraud.

One such document that has long been marred by its vulnerability to fraud is the Bill of Lading.

In this paper, we look at what a Bill of Lading does, its history, its vulnerabilities, and how our Bill of Lading verification tool can assist you in bolstering your compliance processes.

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