July 2026
DCW Monthly: July 2026
Courts have been circling the same idea since 1765: the bank pays unless there is fraud. What they have never
DCW Scam Survey
Three Sentenced to Prison in Standby LC Scam
Roy Johannes Gillar of Las Vegas, Harold Mignott of Voorhees, New Jersey, and Jerrid Douglas, of Freehold, New Jersey received prison sentences of six years, three years, and 45 months respectively, for their actions in a USD 1 million “upfront-fee” scheme which defrauded victims.
1 min read
Read next
DCW Articles
Letter of Credit Fraud
With regard to how fraud may disturb a bank's obligation to honour under an independent undertaking, courts have used various qualifiers to describe the level necessary. In his expansive article, Dr. Alan Davidson explores the concept of "Letter of Credit Fraud" under law and in the courts.
DCW Articles
Thank heavens: Why banks can keep calm and carry on after Celestial Aviation
Assessing the risk of breaching regulatory and compliance requirements while simultaneously examining for documentary compliance under stringent time pressures has complicated banks’ trade finance operations for years. A UK Supreme Court decision provides a degree of comfort and clarity to banks.
DCW Updates
Pakistan Adjusts SBLC Issuance Instructions
Citing ongoing geopolitical conditions and heightened need to facilitate oil and gas imports, Pakistan’s central bank amended its instructions
DCW Updates
SWIFT Message Reference Guide Cited in NY Case
A recent decision issued by a New York court demonstrates the importance of proper understanding and use of the SWIFT