Singapore’s new trade data sharing platform seeks to stem fraud

June 2, 2022 Bryan Industry Comments Off

Office workers go for lunch at the central business district on the first day free of coronavirus disease (COVID-19) restrictions in Singapore, April 26, 2022. REUTERS/Edgar Su/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterSINGAPORE, June 1 (Reuters) – A Singapore trade data sharing platform backed by banks, commodity houses and state firms has signed up 70 participants as part of the city-state’s attempts to bolster confidence after a spate of commodity trade finance frauds in recent years.The Singapore Trade Data Exchange (SGTraDex), whose founders include banks DBS (DBSM.SI) and Standard Chartered (STAN.L), commodity trader Trafigura and the …
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