The impact of COVID on the major economies is becoming clear. During H1 2020, the vast majority of banks have set aside extensive loan provisions, either due to realising losses, or in anticipation of a growing crisis.  However, weakening credit quality is not the only victim of COVID. Wild swings in the markets has the habit of exposing potentially fraudulent behaviour and a number of potential major frauds have surfaced, one of which that could surpass $4 billion and have far-reaching implications for the oil trading and commodities market and for Singapore as a commercial hub.

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