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During its first full calendar year of operations in 2021, the Company launched TAAT™ all over the United States at retail as well as online through e-commerce, in addition to gaining store placements in the United Kingdom in Greater London. An advanced formulation of the Beyond Tobacco™ base material of TAAT™ has improved the product’s user experience, as well as several aspects of the manufacturing process at a larger scale.

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Las Vegas and Vancouver, British Columbia, PRBlast — TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to recapitulate the milestones the Company reached in the calendar year of 2021, its first full year of operations after launching TAAT™ at retail for the first time in December 2020 in Ohio. As of January 2022 all three TAAT™ varieties are sold in well over 1,500 U.S. stores through a nationwide network of wholesalers in categories such as convenience and tobacco, in addition to several stores in Greater London in the United Kingdom. The Company has also significantly scaled its capacity for manufacturing the Beyond Tobacco™ base material of TAAT™, which it has configured in anticipation of new market launches to take place globally in 2022.

Noteworthy events for TAAT™ in each of 2021’s calendar months are summarized below under the respective headings for each month. Please note that as a summary, this is not a comprehensive listing of the Company’s material events during each stated period. Complete disclosures of material events can be found on the Company’s SEDAR profile.

January 2021: New distributors added as TAAT™ gains early-stage momentum among smokers aged 21+ in Ohio. TAAT™ Menthol becomes the first variety to be sold out and reordered, with an overall 60% of tobacco retailers who carried TAAT™ for three or more weeks having reordered as of late January 2021. TAAT™ also launched a statewide video advertisement campaign on 10,442 gas pump displays across Ohio.

February 2021: First mainstream media coverage of TAAT™ in a February 3, 2021 Forbes article profiling the Company. TAAT™ launches its e-commerce portal, making the product available to the majority of smokers aged 21+ in the United States. Upgrades to the Company’s manufacturing facility allow for enough Beyond Tobacco™ base material for over 57,000 TAAT™ cartons per month to be produced, in response to sustained demand in Ohio.

March 2021: Through a new campaign for the TryTAAT landing page, over 5,000 TAAT™ sample pack requests are made by smokers aged 21+ in all eligible U.S. states in a three-day period (March 24 through March 26, 2021, inclusive). TAAT™ is upgraded from the OTCQB® Venture Market to the OTCQX® Best Market in the United States, while sustaining its position on the Canadian Securities Exchange (“CSE”) Composite index as well as its CSE25™ subset of largest companies in Composite by market capitalization.

April 2021: First purchase order placed by an international wholesaler for approximately CAD $149,000, for distribution in the United Kingdom and Ireland. TAAT™ completes its first large-scale consumer research study with over 1,200 smokers aged 21+ in Ohio, Michigan, Illinois, and Pennsylvania, with 95% of those who “Definitely Would” or “Probably Would” purchase TAAT™ finding the concept of purchasing the product online to be “Extremely”, “Very”, or “Somewhat” appealing.

May 2021: After finalizing leases for new facilities in Las Vegas, Nevada, TAAT™ begins making arrangements to promptly migrate production to the new space, which is better suited to large-scale manufacturing. TAAT™ distributor in the United Kingdom confirms exemption from local “plain packaging” laws for cigarettes, representing a key competitive advantage for the Company against incumbent tobacco firms.

June 2021: TAAT™ sponsors the entourage of world champion boxer Floyd Mayweather in his June 6, 2021 fight, whose TAAT™ logo headwear appeared on pay-per-view and television broadcasts globally before, during, and after the match. A promotional video of Mr. Mayweather featuring TAAT™ posted to his Instagram profile garners more than four million views. A Georgia-based wholesaler with a 1,200-store network completely pre-sells its initial shipment of 15 TAAT™ master cases before it arrives. Fiscal Q2 2021 financial results show over 300% sequential revenue growth (please refer to the Company’s June 30, 2021 press release as well as its Fiscal Q2 2021 filing on SEDAR for more information). TAAT™ remains on the CSE Composite and CSE25™ indices following quarterly rebalancing.

July 2021: Complementing its existing presence in the north-central region of the United States, TAAT™ officially launches in Illinois where it enjoys the competitive advantage of a USD $4.59 MSRP; less than half of the state’s average tobacco cigarette pack price of USD $9.72. TAAT™ exhibits at its first business-to-business (“B2B”) trade show, where it is named “Best New Product” at the event.

August 2021: Contacts made at trade shows in July 2021 yield 68 closed initial purchase orders, reported in the first week of August 2021. Significant progress was made in Georgia and Michigan (over 70 stores within weeks of launching and a 147-store chainwide placement, respectively), marking seven states added in two months. Over CAD $1.6 million in purchase orders announced for international markets including Australia, as well as an additional order for the United Kingdom and Ireland.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ae02f9c-754e-4cd0-9028-39332e805f21

Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.

September 2021: TAAT™ surpasses the 1,000-store mark in the United States. Advanced formulation of Beyond Tobacco™ using reconstituted material is acclaimed by tobacco wholesalers in Germany, Poland, France, and Switzerland. Over 43,000 TAAT™ packs arrive in London for distribution in the United Kingdom and Ireland. TAAT™ remains on the CSE Composite and CSE25™ indices following quarterly rebalancing.

October 2021: Follow-on private placement in TAAT™ for CAD $10 million is made by a group of venture investors led by Ms. Debbie Chang (co-founder of Horizons Ventures) in her personal capacity. TAAT™ adds 19 U.S. wholesalers in a 60-day period, gaining distribution in new states such as Virginia, Oregon, and Missouri.

November 2021: Record domestic single-month performance with multiple pallets of TAAT™ sold each week. First commercial order of TAAT™ confirmed for Austria, valued at over CAD $86,000. TAAT™ ships pallet orders to new distributors in California, in key markets to include Los Angeles, San Diego, and San Francisco.

December 2021: Through a national convenience distributor, TAAT™ is placed in 350 additional stores in the state of Virginia. Numerous TAAT™ placements in Greater London are confirmed. TAAT™ remains on the CSE Composite and CSE25™ indices following quarterly rebalancing.

TAAT™ Chief Executive Officer Setti Coscarella commented, “We are thrilled with the year we had in 2021 as we continued to form relationships with wholesalers both domestically and internationally, while establishing a presence at the same high-profile trade shows where major tobacco firms exhibit, and further optimizing our operations to facilitate long-term growth. During the calendar year 2021 TAAT™ also made several notable accomplishments in the capital markets, including our fifth consecutive quarter in the CSE Composite and CSE25™ indices and an upgrade to the OTCQX® Best Market in the United States. On behalf of the TAAT™ team, I express my utmost gratitude to everybody who contributed to our success over the past year as we continue to deliver an opportunity for smokers aged 21+ worldwide to make a nicotine-free choice.”

On December 13, 2021 the Company implemented a Restricted Share Units (“RSUs”) Plan (the “RSU Plan”), under which it has granted 2,000,000 RSUs to its Chief Executive Officer Setti Coscarella, further to an executive employment contract dated July 19, 2020.

On behalf of the Board of Directors of the Company,

TAAT™ GLOBAL ALTERNATIVES INC.

“Setti Coscarella”

Setti Coscarella, CEO and Director

For further information, please contact:

TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatglobal.com

THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.

About TAAT™ Global Alternatives Inc.

The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in "Original", "Smooth", and "Menthol" varieties. TAAT™'s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with "Big Tobacco" pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.

For more information, please visit http://taatglobal.com.

References

^1. British American Tobacco - The Global Market

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT™ in the tobacco industry, in addition to the following: Potential outcomes to occur in 2022 based on achievements in 2021, including international launches. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.

This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.

Statement Regarding Third-Party Investor Relations Firms

Disclosures relating to investor relations firms retained by TAAT™ Global Alternatives Inc. can be found under the Company's profile on http://sedar.com.

Los Angeles, California, November 15^th, 2020 -- Smart Bitcoin Investments is dedicated to teaching investors how to make smart investing decisions and is releasing a bitcoin calculator so people all over the world can easily calculate the value of their BTC to the fiat currency of their choice.

The bitcoin calculator will easily convert the price of BTC to any fiat currency on-demand including USD, EUR, GBP, AUD, BRL, CAD, CHF, CLP, CNY, DKK, HKD, INR, ISK, JPY, KRW, NZD, PLN, RUB, SEK, THB, TRY, and TWD.

Not only is the bitcoin calculator backed by real-time price data from Blockchain.com, but also it offers users rates in real-time for several major currencies. Through the calculator interface users have easy access to popular exchanges like Etoro, Coinbase, CEX.IO, Coinmama, Binance, Kraken, Paybis, Bittrex, Paxful, and many others should they decide that they would like to buy or sell bitcoin after viewing the price conversion.

“It is a good idea to have a tool that can help you convert the price of bitcoin to the fiat currency supported in your country,” says Jeffrey Ito, founder of Smart Bitcoin Investments and creator of Bitcoin Calculator, “and also provide the charts necessary for you to make smart trading and investing decisions”.

Bitcoin calculator is complete with an interactive historical chart. For this release the available charts include market price, total circulating bitcoin, market capitalization, and daily trade volume. Within each chart visitors can customize the time frame they would like to view or select between the last 7 days, 15 days, 30 days, 60 days, 180 days, 1 year, 3 years and all-time. The company has plans to include more charts and tools for future updates so users can enjoy advanced features without having to sign in to an exchange first.

If you have any questions about how bitcoin calculator works or if you would like to get in touch with the owner you can reach out to him using the contact information provided below.

Company Information:

Contact: Jeffrey Ito
Address: Lithium Gold Ventures, LLC
1901 Avenue of the Stars, 2nd Floor
Los Angeles, CA 90067
Email: info@smartbitcoininvestments.com
Website: https://bitcoincalculator.org/

Singapore-based entrepreneur, Amir Nada, launched a financial comparison platform during the lockdown that is helping Singaporeans master all their money moves. The new platform allows consumers to easily compare and choose the best financial products and plan better ways to spend and save.

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Singapore (September) -- “There’s always an opportunity in a crisis.”That’s the resounding message from a Singapore- based digital marketer, Amir Nada, who developed ROSHI-a financial comparison website seven months ago when the country was forced into Covid-19 lock down restrictions.

According to a research conducted by global professional services company, Accenture, Singaporean Fintech companies raised US $735 million in 2019. This was a 69 percent increase compared to the same period in 2018.  Realizing the popularity and demand forFintech services in the country, Amirdeveloped ROSHI using a small amount of his own capital and by applying an experience optimisation framework (something he has developedto perfection in his corporate job)to analyse all market players in-depth, collect learnings and develop a competitive product.

“Being stuck at home has given me the opportunity to focus on something I have always been passionate about,so I used the time to create ROSHI,” said Amir when asked to explain his motivation for creating the platform.  He also mentioned that he was continuously frustrated by the poor user experience and biased product listings provided by local market leaders. He added, “I wanted to give Singaporeans greater value by providing them with an easy-to-use interface, smart comparison features and unbiased product listings/ratings.”

ROSHI already offers a plethora of financial product categories; however, plans are afoot to introduce additional money tools and exciting new features in the coming months. The founderalso has plans to expand the service beyond the borders of Singapore. To accomplish this goal, the young entrepreneur says he is open to discussing seed funding opportunities with investors.

For further information about ROSHI or to engage the financial comparison services offered on the platform, visit: https://www.roshi.sg.

About ROSHI

ROSHI is a financial comparison website providing Singapore with the latest price checkpoints, easy to use comparison tools and expert insights to answer all money questions.

Media contact: Amir Nada
Email: amir.nada@roshi.sg

The innovative collaboration expands CMDX’s wealth generation model, giving users more opportunities to earn through improving their health.

ROSEAU, Dominica (April 29, 2020) — CMDX, a global community dedicated to generating wealth by rewarding healthy living, has announced a new partnership with Human API to expand opportunities to its members to earn money through healthy living through the Burn It and Earn It program.

CMDX’s robust platform rewards members monetarily for a wide variety of activities. By engaging in healthy practices like exercise and mindful eating or sharing the CMDX platform with other uses around the globe, community members earn cryptocurrency rewards. These rewards can then be used within CMDX’s growing global network of healthcare providers or be used to purchase goods and services anywhere cryptocurrency is accepted.

With its new partnership with Human API, CMDX will offer its global membership network more ways to earn rewards for engaging in a healthy lifestyle. Human API is a service that allows consumers to connect and share health data with companies they trust. With the new partnership, CMDX members will be able to connect their CMDX accounts to over 30 brands of fitness trackers, including CMDX’s biometric wrist monitoring device CMDXFit. By engaging in activities such as biking, hiking, swimming, or even sleeping, users can earn anywhere from $10 to $250 per month in CMDXRewards.

“We are thrilled to partner with Human API to expand opportunities for our members to maximize their wealth through making healthy lifestyle choices,” said Tom McMurrain, CEO of CMDX. “Human API is a trusted name in the health data market, so partnering with them was an easy decision. With our Burn It and Earn It program, we are moving forward on our vision of becoming the Bitcoin of healthcare and the number one firm in the wearable tech sector by expanding opportunities for our users to earn through healthy living.”

CMDX currently boasts 290,000 members in 40 countries. The company offers three levels of user affiliation with varying degrees of earning opportunities. Members can earn CMDXRewards by engaging in healthy activities and referring others to the platform. Healthcare providers who accept CMDX as payment can earn referral rewards, and Ambassadors can earn rewards and build wealth through deploying CMDX’s three-step system to share the vision and mission of the company.

To learn more about CMDX and the Burn It and Earn It initiative, visit https://cmdx.io/

About CMDX

CMDX is a global community dedicated to generating wealth for its users by rewarding healthy living. Through rewarding users for healthy lifestyles with cryptocurrency and creating a global network of healthcare providers accepting its smart currency, CMDX is changing the face of healthcare to make it affordable for every man, woman, and child and creating a better quality of life across the globe. To learn more, visit https://cmdx.io.

About Human API

Human API is on a mission to radically accelerate the pace of health innovation by giving consumers the easiest way to connect and share health data—no matter where or how it was stored. The company has built the first consumer-controlled health data platform that connects, normalizes, and structures data from 90% of acute care and critical access hospitals, along with pharmacies, labs, and 300+ wearable devices and fitness apps. Human API empowers insurance, corporate wellness, health plans, digital therapeutics and clinical research organizations to build and deliver consumer-centric apps and services with electronic health records (EHR) and personal device data from everywhere. For additional information, visit https://www.humanapi.co.

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For more information about CMDX or for media inquiries, please contact Tom McMurrain, CEO, tom@cmdx.io or 404-702-7420

A new trading startup, TradeVSA, is pleased to announce the creation of a new bot, Robie Stock Market Chatbot Assistant, designed to simplify trading and for new and unestablished investor in the stock market.

Designed specifically for the Bursa Malaysia Stock Exchange, Robie uses some of the most cutting edge technologies in the industry.  Robie combines Volume Spread Analysis with Value investing to compute intrinsic value of stock shares.  This is a must for any new trader looking to break into what is certainly one of the larger markets in the world.

“Our goal with Robie was to help first time investors and beginners to make decent profits from their stock investments and avoid costly mistakes. Those who are not certain about the stock market often have a very steep and expensive learning curve when it comes to earning real money in the markets.  Robie is designed to curb that issue,” said Rianne Chin, PR and Communications for TradeVSA System SB.

Robie works with conversational text based interface.  It uses proprietary algorithms to perform analyses on stocks in the market; Robie mostly use technical analysis to determine a share is overbought or oversold. It then passes this information onto the user, who makes their trades via their standard broker or brokerage agency.

Robie does not require a license from the Securities Commission as it does not receive funds from clients nor invest on their behalf.

“We have specifically targeted the millennial generation for Robie Stock Market Chatbot Assistant.  Millennials grew up with technology and can use that fact to their advantage,” continued Chin.

Talks are already taking place with the idea of expanding Robie and the technology to the rest of Southeast Asia.  The goal is complete integration with other trading platforms, allowing users more access to a greater pool of stock opportunities &options.

Learn more about Robie Stock Market Chatbot Assistant at the website.  Go to https://tradevsa.com for additional information about the app and TradeVSA.

Rianne Chin
Contact : rianne@tradevsa.com
Mobile : +6010 266 9761

The tax preparation expert and author explains how to know who to claim as a dependent in a recently published article available to read on the “Discover It Here!” blog.

August 1, 2019 – The “Discover It Here!” website and blog now features a new article, written by tax expert Frank Ellis, which explains who one can claim as a dependent. An exemption can be claimed for anyone a taxpayer claims as a dependent, the author says. Doing so reduces taxable income. Qualifications such as a child under the taxpayer’s care must be met in order to get tax benefits of claiming them as dependents.

First, Ellis lists the various qualifying child requirements. The child can be adopted, a step child, or foster child; they can also be a sibling or the child’s descendent. Age requirements are mentioned and so are living requirements. The author also says at least 50% of the dependent’s support must be provided by the taxpayer in order for them to be claimed. Also, the dependent being claimed cannot file a joint return on their own.

Qualified relative requirements are listed next. First this person cannot already be claimed as a dependent by someone. They must be related, or live with the taxpayer claiming them for at least a year. Gross income thresholds and levels of support matter as well. Ellis provides a little insight into that.

Next, the author provides several common questions and answers about claiming dependents. These cover topics such as a dependent having to file taxes, if a taxpayer’s partner and kids live with them, and whether dependents have anything to do with claiming the earned income tax credit. Ellis also answers questions related to children away at school or whether or not a spouse can be considered a dependent.

Read more about whether someone can be claimed as a dependent and see answers to common questions about this subject at, https://discoverit.typepad.com/blog/2019/07/knowing-who-you-can-claim-as-a-dependent-the-inside-scoop.html

About Frank Ellis

Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.

Contact Information:
Frank Ellis
Discover it Online
945 East 8th Street Suite A
Traverse City, Michigan 49686
Email: contact@harborfinancialonline.com
Website: http://discoverit.typepad.com/blog/

With regulatory changes across the global banking sector, banks have had to change the way they lend to business customers, making it harder for them to access funding.

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London, May 23^rd, 2016 -- This change has had a huge knock-on effect for businesses looking for short term business loans to expand and grow their business. Bluerock Capital Group, who provides alternative finance secured by assets, has said that traditional banking is not the only option to attract funding.

The alternative funding experts report that more companies are now turning to alternative finance lending. It's not just business people in the USA who are turning to alternative funding; the trend is happening all around the world; including the UK, Europe and Asia.

Bluerock Capital Group has already built a strong business base from their property lending expertise, broadening areas of specialist lending such as private equity, equity leasing and project finance.

However, tens of millions of businesses around the world are still unaware there are alternatives to bank funding. Numerous reports and surveys support these market observations, with over 30% of SME’s unaware of finance solutions outside of traditional banks, whilst also stating the availability of finance as major challenges for their business.

Bluerock Capital Group has said the alternative finance sector has increased by 157 percent in the USA in 2015 while it has grown by 149 percent in Europe with the growth expanding to 345 percent in Asia. They believe that the strict rules currently being put in place by banks will lead to even more people turning to alternative funding.

Brian Taylor, of Bluerock Capital Group, said,”The European banks in particular remain constrained as they recapitalize; many are reverting to their ‘core’ markets leaving many businesses out of luck when they require finance. Bluerock Capital Group supports the development of Alternative Finance markets, with an investment focus on secured asset lending.”

With the ongoing changes in regulations and structural reform in today’s financial industry, alternative funders and Bluerock Capital Group believe that small and medium sized businesses are increasingly likely to turn to specialist lenders who have the skills to understand their specific needs.

The market for alternative finance will continue to grow because diversifying the sources of finance available to companies will help to support financial stability and increase resilience in economies around the world.

Bluerock Capital Group are experts in helping small to medium sized businesses gain alternative funding, for more information, please visit http://www.bluerockcapitalgroup.com/

About Blue Rock Capital Group:

Blue Rock Capital Group are a seasoned and dedicated team of professionals that provides small and medium-sized businesses alternative financing options in the form of Property & Project Financing, Equity Leasing, and Private Equity.

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For Media Contacts:

Company Name:		Bluerock Capital Group
Phone Number:		+44 (0) 20 8798 3021
Fax Number:		+44 (0) 20 8798 3022
Email:		contact@bluerockcapitalgroup.com
Website:		www.bluerockcapitalgroup.com

As the world continues to globalize and expand, international trade has become a more complex and diversified entity. Although new sophisticated technology and relaxed corporate policies have made it easier for practitioners to do business, these new developments have created a savory environment for fraudsters. Trade finance frauds are on the rise with syndicated criminals cashing in to the detriment of the economy and financial institutions.

Only recently, the port of Qingdao in China was the stage for a billion dollar trade finance fraud. According to reports, two major mining companies in the Shandong Province have reportedly secured more than $15 billion in fraudulent loans for the import of various metals. One of the suspected companies apparently re-pledged the same stockpile of metals over and over again as collateral to obtain loans from multiple banks. This is supposedly a common practice in China where local companies rely on imported metals to acquire short-term financing from banks.

The sketchy deals were made using some form of “illegal arbitrage between foreign currency exchange and bank interest rates”, which resulted in a profit of 900 renminbi for the traders. Some of the big names in the banking sector that are now cutting their losses include Britain’s Standard Chartered Bank, Citigroup and South Africa’s Standard Bank.

3 Denominators Common To All Trade Finance Frauds

According to apex SEO and Internet Marketing company DCM Moguls, there are three common denominators involved in frauds of such great magnitude.

• An opportunity
• In-house impropriety
• Pressure to commit fraud

Having been an experienced player in the online domain for more than a decade, DCM Moguls is all too familiar with the specter of trade finance frauds. DCM Moguls utilizes the latest in cutting edge online marketing practices to create an astounding web presence for various online businesses, both big and small. Their wide range of services, which include link building, web design, mobile website conversion, social marketing 2.0 and video marketing among others have propelled the success of numerous brick and mortar establishments from scratch.

Quite naturally they are concerned with the other end of the spectrum – the destructive forces at work, aimed at pillaging business and financial institutions for the purpose of fraudulent gain.

According to DCM’s fraud mitigation and risk assessment experts, all businesses should institute a systematic approach to fraud detection and prevention.

The Warning Signs

DCM recommends that there are several warning signs that an establishment should look out for when a trade finance fraud is in progress.

• Unauthorized access to trading, settlement and financial risk monitoring systems.
• Lack of restriction on traders booking transactions to other books or accounts
• Creation of unauthorized or false counterparties
• Contract with no upfront cash flows or margin calls
• Discrepancies in confirmations and settlements that are not monitored or followed up
• High volumes of cancellations and amendments of trades
• Excessive use of spreadsheets
• Monitoring of net rather than gross positions
• Review of daily trading activities not performed or reviewed at senior levels
• Trading of new or non standard products and lack of restriction in doing so
• Lack of controls around cash receipt and payment
• Lack of controls around counterparty confirmations

5 Effective Ways To Prevent & Intercept Trade Finance Fraud

DCM Moguls acknowledges the fact that while the majority of commodity trading firms would have considered the impending risk of fraud and devised mechanisms to mitigate the risk, at times they just might not be enough. Hence, in addition to the measures already adopted to prevent fraud, DCM suggests the following courses of action:

• Systems – Assessment of access and change management, real time reporting and risk alerts and restricting the use of spreadsheets and other manual workarounds.
• Trade Surveillance – Proactively using data mining and analysis to uncover unusual trading patterns
• End To End Controls – Assessing whether controls are designed effectively and whether they are actually operating. Also, indentifying any unknown or suspicious patterns that emerge.
• Risk Evaluation Metrics – Evaluating whether current reporting and key metrics are fit for purpose in showing where risk is concentrated. These include the tracking of red flags.
• Human Behavior – Evaluating the human and organizational factors that include work culture, employee satisfaction, personality and performance management.

Commenting on the recent spate of trade finance frauds in China, DCM suspects that such magnitude of fraud would not have been possible without some internal involvement by individuals who had unrestricted access to back office systems and other sensitive organizational processes. Also, due to lack of proper enforcement many red flags were either dismissed, ignored or went unreported.

The SEO giant once again stresses on the importance of synergy between the front, middle and back offices so that individual indicators could have been collated more effectively. According to DCM’s senior tech, the fraudulent traders took advantage of the insufficient segregation of duties prevalent in the swindled financial institutions. “This would not have happened, had there been designated internal bodies concerned with deal initiation, confirmation, valuation and settlement of the loans”.