About fraud

HOW TO KEEP YOUR PRE-PAYMENT OR DELAY PAYMENT FOR THE GOODS

This is another method used by scammers to keep your pre-payment or delay payment for the supplied goods. This trick is well-known in all industry branches and often used by dishonest companies. Let’s have a look at the following situation. You made a pre-payment for the goods or sold your... More info >>>

SOME SCAM TECHNIQUES

These signs can indicate that you might be dealing with a scammer. Urgency of the transactions. The scammers push you to complete the business, explaining that next week or month the price will be much higher and you won’t be able to purchase the product at today’s low price. You place an... More info >>>

BUILT-IN DISCREPANCY IN THE L/C

This is a method used by dishonest companies for not honouring the L/C or to negotiate price reduction. Some dishonest importers instruct their bank – the issuing bank - to issue a Letter of Credit which includes built-it discrepancies. One of the most common methods is to ask for a... More info >>>

HOW TO FILE A CLAIM

It is important to file a claim in the proper way if you want to receive compensation. All importers are familiar with the situation when the quality or quantity of the received goods does not correspond to the contract. It is important to file a claim in the proper way, so your... More info >>>

AN EASY WAY TO GET RID OF WASTE

It is easier to ship hazardous waste out of the country than to dispose it domestically. Especially if you pay nothing for the freight! In many countries the recycling of certain types of waste is extremely expensive. Used tyres, plastics, waste from chemical productions, expired drugs etc., are very expensive... More info >>>

FAKE PROOF OF FUNDS

Scammers were trying to get advance fees from different organisations, using fake Proof of Funds. The ICC´s financial watchdog the Financial Investigation Bureau (FIB) is alerting banks and the investment community about the recent widespread circulation of a false Proof of Funds letter. The letter purports to originate from... More info >>>

FAKE CUSTOMS

Fake customs was discovered in a small town near Moscow. Fake customs operating near Moscow was discovered by the Department of Fighting of Economic Crimes. The customs was working exactly as a real one, except all documents and seals were spurious and the “customs” did not have any licenses for... More info >>>

HOW TO CHEAT A MIDDLEMAN

This trick is used to cheat a middleman and sell him useless products at a sky-high price. The scam works as follows: Phony company A sends a request for a certain product to several trading companies. Usually it is a product with very special characteristics and which is hard... More info >>>

QUALITY ISSUES IN FOREIGN TRADE

Some recommendations on how both exporters and importers can avoid quality claims. Quality of the supplied product is one of the main issues in any deal. Exporters can risk an unfair quality claim after the goods are delivered. Dishonest buyers can reject the goods and try to avoid payment... More info >>>

VAT FRAUD

Popular schemes of VAT fraud. There are many schemes of VAT fraud. The purpose of the scam is to obtain a VAT refund for the supposedly exported goods. One of the techniques is described below. Scammers purchase absolutely useless things like metal, glass, plastic waste, old electronic parts etc. On the papers... More info >>>

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