This paper provides an updated discussion on the challenges associated with the implementation of controls relating to price misrepresentation risk in trade finance transactions; the prevalent financial industry-wide approach to price checking; and the feasibility of potential price checking controls.

Finally, it aims to summarise best practices and recommendations for FI engaged in trade finance, recognising that a variety of approaches hold validity based on the individual circumstances of respective institutions, and that no single solution or approach will be appropriate for all.

You can read the paper here.