TA DIGITAL
Final Project Report Bank"s Prevention Against Fraud Cases Related to Letter Of Credit (Persero) Tegal Branch
The safest payment method for all involved parties in international trade is Letter of Credit (L/C). Although letters of credit are a balanced payment method in terms of risk issues for both exporters and importers, each letter of credit party bears some amount of risk. Not only buyer or seller, but also banks bear a risk. Bank's responsibility makes the banks one of the parties that bears risks in a letter of credit transaction. Therefore I am motivated to write the final project report entitled "BANK'S PREVENTION AGAINST FRAUD CASES RELATED TO LETTER OF CREDIT AT BANK RAKYAT INDONESIA (PERSERO) TEGAL
BRANCH."
The aim of the final project is to find out the negotiation process of documents required by a Letter of Credit (L/C), and the prevention of Bank Rakyat Indonesia in avoiding fraud cases and discrepancy.
As negotiating and advising bank, Bank rakyat Indonesia implements strict rules in handling documents required by an L/C. When an L/C is received in Bank Rakyat Indonesia Tegal Branch, this L/C must be issued by correspondent bank. Otherwise, the L/C can not be accepted for processing, because they can not do authentication for the accuracy and validity of L/C. Moreover if the L/C is issued by a fake bank, the bank absolutely can not do further processes.
It is recommended that Bank Rakyat Indonesia should have an informant in port of departure to ensure the existence of goods especially for the high value L/C.
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