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In today’s troubled economy and business world fraud is running rampant. Anthony Altavilla talks about how to avoid common frauds and scams.

Stejn is the landmark case in American law dealing with fraud in letter of credit transactions. It was so important that the court’s findings became codified in the Uniform Commercial Code (UCC), but throughout the common law jurisdiction Sztejn has been praised and followed.
Sztejn had bought bristles from an Indian company named Transea Traders, Ltd. Sztejn opened a letter of credit through Schroder to the benefit of Transea. The beneficiary presented the required documents and drew a draft to the order of Chartered Bank, which presented the draft to Schroder requesting payment. However, instead of shipping the contractually agreed upon goods, Transea had filled 50 crates with rubbish. Plaintiff, Sztejn filed a suit for judgment asking the court to declare the letter and draft thereunder void and furthermore asked the court to enjoin the issuing bank, Schroder, from accepting the draft.

Three or more Harmful net frauds and the way to prevent them
Have you ever already been conned out of your money? You may recognize somebody who has.

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Conning is becoming thus widespread in modern society that will popular chat show serves Oprah along with