• Journal of Arbitration Studies
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• v.22 no.3
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• pp.119-139
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• 2012

In the case of Banque Paribas V. Banco Santander in England for the reimbursement request of deferred payment credit by the nominated bank, the L/C-issuing bank refused to pay the proceeds at maturity because of a fraudulent transaction. The reason of refusal was that the nominated bank, Banco Santander, had no right of payment in deferred credit before its maturity if it made payment of proceeds without notice to the issuing bank, that is, payment not based upon a credit transaction but on its own account. However, in the case of ADIB V. Fortis Bank in America, the New York court made the decision that the deferred payment bank could not refuse to reimburse to the nominated bank, Fortis Bank, because of fraud. Its decision was based on the UCP600. We have analyzed and investigated the above two cases-one was an English court's decision and the other an American's. The English court's decision was made under UCP500, but the American court's was made under UCP600, which was revised in 2007. As a result, we can expect that from now on in deferred payment credit transactions, the power of the nominated bank will be greater than before, but the issuing bank will bear the risk of the beneficiary's fraud, so the issuing bank will be hesitant to issue deferred payment credit. Notwithstanding, we thought that the New York court decision would come into effect in the activation of deferred payment credit in practical trade transactions.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.405-427
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• 1999

Although Uniform Customs and practice for Documentary(UCP) is not a law, it applies to most documentary credits and is binding on all parties unless otherwise expressly stipulated. Besides, Uniform Commercial Code(UCC) Article 5 was codified by the United States and was adopted by every state. Moreover, the New York version of the UCC Article 5-102(4) specifically providing that the UCC does not apply to letters of credit where the parties agree to be governed by the UCP. Identical nonuniform Articles were latter added in Alabama, Arizona, and Missouri. The fact that courts in forty-six of the fifty states are bound by Article 5. Until now, Article 5 of the UCC has probably had an impact on the decisions in New York and the New York common law. Therefore, I examined a few issues on application between Article 5 of the UCC and the UCP. First, although the UCP attempt to introduce a new for examination of document by incorporating "standard practice of financial institutions" and "international banking practice", the standards for documentary compliance are not clear. The UCC attempt to rely on the matter of interpretation for the court, but the UCP would probably be interested in examining in about bank's internal practices as reflected in UCP Articles. Second, the rule for nondocumentary conditions is a useful for stand-by credit transactions under the UCC, but these conditions would probably put the bank in an even worse position in case of documentary credit transactions under the UCP. Third, the UCP does not contain any provision governing the fraud exception, but the UCC codified the fraud and forgery rules developed through American case law. Fourth, the UCP treats the issue of transfer in much more detail than the UCC does. In contract, the UCP's treatment of assignment of proceeds is brief. Finally, I suggest that the fraud exception rules should be prescribed in the UCP in order to protect the issuing bank and the applicant when an unscrupulous party attempts to defraud.

• Korean Journal of Social Welfare Studies
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• no.39
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• pp.287-314
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• 2008

This paper tests the stigma hypothesis and administration hypothesis on the illegal take-up group and non take-up group in the National Livelihood Security Program. A set of survey data, using multinomial logistic model, was analyzed for this purpose. Compared with the legal take-up group, the feature of illegal take-up group which has more workable household supports the administration hypothesis - the low skill of means-test office would increase the possibility of benefit fraud. The features of non take-up group support both the stigma hypothesis - the stigma prevents eligible person from participating in the social assistance program, and the administration hypothesis - the administration office is apt to make error to deny the eligibility of person who has supposed family supporters.

• Journal of Information Technology Services
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• v.20 no.5
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• pp.119-136
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• 2021

Since the global spread of COVID-19, social distancing and untact service implementation have spread rapidly. With the transition to a non-face-to-face environment such as telework and remote classes, cyber security threats have increased, and a lot of cyber compromises have also occurred. In this study, cyber-attacks and response cases related to COVID-19 are summarized in four aspects: cyber fraud, cyber-attacks on companies related to COVID-19 and healthcare sector, cyber-attacks on untact services such as telework, and preparation of untact services security for post-covid 19. After the outbreak of the COVID-19 pandemic, related events such as vaccination information and payment of national disaster aid continued to be used as bait for smishing and phishing. In the aspect of cyber-attacks on companies related to COVID-19 and healthcare sector, we can see that the damage was rapidly increasing as state-supported hackers attack those companies to obtain research results related to the COVID-19, and hackers chose medical institutions as targets with an efficient ransomware attack approach by changing 'spray and pray' strategy to 'big-game hunting'. Companies using untact services such as telework are experiencing cyber breaches due to insufficient security settings, non-installation of security patches, and vulnerabilities in systems constituting untact services such as VPN. In response to these cyber incidents, as a case of cyber fraud countermeasures, security notices to preventing cyber fraud damage to the public was announced, and security guidelines and ransomware countermeasures were provided to organizations related to COVID-19 and medical institutions. In addition, for companies that use and provide untact services, security vulnerability finding and system development environment security inspection service were provided by Government funding programs. We also looked at the differences in the role of the government and the target of security notices between domestic and overseas response cases. Lastly, considering the development of untact services by industry in preparation for post-COVID-19, supply chain security, cloud security, development security, and IoT security were suggested as common security reinforcement measures.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2014.10a
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• pp.394-397
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• 2014

Most of Koreans have smartphone. By using smartphone, they have done internet-banking, e-commerce and private scheduling. However, convenience of smart phone has been made side effect such as tool of fraud and crime. Especially, Smishing on smartphone has been increased rapidly since 2013. Smishing have utilized social-engineering technique with social issue such as Korean near-sea cruse ship, 'Sewol-Ho', Sinking and traditional thanks-giving holiday, 'Chu-Seok', etc. This paper proposed the oncoming trend of smishing on smartphone after 2014. This paper also analyzed the process and technique of smishing on internal financial fraud. It also covered smartphone forensic for using legal evidence. By discovering the connectivity of smishing and financial fraud, this paper could be reference for social security on smartphone.

• Journal of the Korea Society of Computer and Information
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• v.27 no.3
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• pp.173-182
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• 2022

In this paper, we propose a machine learning model that can prevent fraudulent transactions in advance and interpret them using the XAI approach. For the experiment, we collected a real data set of 12,258 mobile phone sales posts from Joonggonara, a major domestic online C2C resale trading platform. Characteristics of the text corresponding to the post body were extracted using Doc2vec, dimensionality was reduced through PCA, and various derived variables were created based on previous research. To mitigate the data imbalance problem in the preprocessing stage, a complex sampling method that combines oversampling and undersampling was applied. Then, various machine learning models were built to detect fraudulent postings. As a result of the analysis, LightGBM showed the best performance compared to other machine learning models. And as a result of SHAP, if the price is unreasonably low compared to the market price and if there is no indication of the transaction area, there was a high probability that it was a fraudulent post. Also, high price, no safe transaction, the more the courier transaction, and the higher the ratio of 0 in the price also led to fraud.

• Korean Journal of Construction Engineering and Management
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• v.24 no.6
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• pp.36-44
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• 2023

The aim of this study is to predict the potential for bid-rigging among public construction bidders and develop preventive and responsive measures. By employing the Fraud Triangle Theory (FTT), which considers the factors of opportunity, pressure, and rationalization, we analyze and explore the bid-rigging potential among construction industry professionals. A survey is conducted among General and specialized construction firms to validate the FTT research model and predict individual bid-rigging tendencies. The results indicate that higher levels of pressure, greater opportunities, and stronger rationalization increase the likelihood of individual bid-rigging. Moreover, more opportunities and stronger rationalization also raise the potential for bid-rigging by others. Understanding these dynamics enhances our knowledge and contributes to the development of policies aimed at preventing bid-rigging.

• Journal of the Society of Disaster Information
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• v.19 no.4
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• pp.908-915
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• 2023

Purpose: The purpose of this study is to examine the types of fraudulent crimes among various crimes taking place during NFT transactions, and to approach institutional problems caused by crime types analysis and crackdown methods and legal limitations. Method: IIn order to classify the types of fraudulent crimes that appear in NFT transactions, the crime types were analyzed through the results of previous studies and cases of current incidents. Result: Most of the crimes that are taking place through NFTs are various types of fraudulent crimes such as rug pools, thefts, personal information theft fraud, and pig murder. Therefore, these types were classified and various damage cases were also analyzed. It is a matter of copyright. Conclusion: Currently, the financial problems caused by the occurrence of fraudulent crimes in NFTs worldwide are the most worrisome, and the scale will be even greater as the market grows in the future. Therefore, in Korea, various institutional supplements and policies should be prepared through analysis of crime types that can affect crime prevention and investigation and arrest activities.

• Food Science of Animal Resources
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• v.43 no.6
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• pp.1055-1066
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• 2023

The cultured meat industry is continuously evolving due to the collective efforts of cultured meat companies and academics worldwide. Though still technologically limited, recent reports of regulatory approvals for cultured meat companies have initiated the standards-based approach towards cultured meat production. Incidents of deception in the meat industry call for fool-proof authentication methods to ensure consumer safety, product quality, and traceability. The cultured meat industry is not exempt from the threats of food fraud. Meat authentication techniques based on DNA, protein, and metabolite fingerprints of animal meat species needs to be evaluated for their applicability to cultured meat. Technique-based categorization of cultured meat products could ease the identification of appropriate authentication methods. The combination of methods with high sensitivity and specificity is key to increasing the accuracy and precision of meat authentication. The identification of markers (both physical and biochemical) to differentiate conventional meat from cultured meat needs to be established to ensure overall product traceability. The current review briefly discusses some areas in the cultured meat industry that are vulnerable to food fraud. Specifically, it targets the current meat and meat product authentication tests to emphasize the need for ensuring the traceability of cultured meat.

• Information Systems Review
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• v.22 no.4
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• pp.135-161
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• 2020

With the growth of blockchain and cryptocurrency-related markets, cryptocurrency exchanges are growing as a new industry. However, as the legal and regulatory definitions of cryptocurrencies are still in progress, unlike existing industrial groups, they are not under the supervision of regulatory agencies. As a result, users (i.e., cryptocurrency investors) have suffered two types of damage that could occur from hacking and other accidents on the exchanges. One type of the damage is the loss of assets caused by the extortion of personal information or account and the other is the damage from users who might be involved in external frauds. Both are analyzed in comparison with existing operators whose functions are like the exchanges. The results of this study show that membership (KYC: Know Your Client), log-in, and additional authentication in transactions are on the similar level to those of the operators while the fraud detection system (FDS) and anti-money laundering (AML) of fiat currencies and cryptocurrencies need rapid improvement.