About fraud

“WE NEED YOUR PRODUCT” SCAM

This type of fraud is often used by African fraudsters. The main purpose of the scam is to receive money from the supplier. This is another “advance fee” scam that is used against businesses worldwide. Probably you have already received a letter similar to the one below. The style... More info >>>

TRADER BETWEEN TWO FIRES

Often a middleman can get into a difficult situation when one of his counterparties breaches the agreement. His partner can be in trouble too. In any business the role of a middleman is to sell products produced by a manufacturer to the buyer and gain a commission for this... More info >>>

FRAUD PREVENTION – TOP PRIORITY

It is much easier and cheaper to prevent fraud rather than trying to recover the losses afterwards. Our experience shows that it is much easier for companies to prevent fraud rather than trying to recover the lost money afterwards. When the fraudster is located overseas the process of recovery... More info >>>

WORKING WITH LARGE IMPORTERS: POINTS TO CONSIDER

Working with a large supplier or buyer may have certain pitfalls. There is a natural desire of many companies to find a large and solid business partner and by this co-operation ensure firm volumes of trade and a noticeable income. Often smaller trading companies feel excited when they find... More info >>>

PIPE UNDER THE BORDER

To transport illegal alcohol or petrol over the border smugglers have to invent sophisticated and technically complicated methods. Not to waste time in smuggling alcohol in “retail” volumes, smugglers often decide to invest considerable time and efforts to construct a pipeline over the border that will give them a... More info >>>

CREDIT INSURANCE: WHY NOT? PART 1

Sometimes even the most stable and reputable importers cannot receive a credit line from their suppliers. How can this happen? Many importers around the world have experienced this situation. Let’s have a closed look at it: You are a reputable importer that has been in business for several years.... More info >>>

CREDIT INSURANCE: WHY NOT? PART 2

Why was the supplier so stubborn and inflexible? It was obvious that both companies could benefit from your co-operation and make money. We may suggest that there may be a number of reasons: The seller may think that once the goods are supplied on credit you will make an... More info >>>

CLAIM HANDLING CAROUSEL. PART 1

This behaviour pattern is very common when you send a claim to your supplier or when your buyer owes you money. The method is very irritating for the creditor but works well for the debtor and gives him the opportunity to win extra time before the debt is paid.... More info >>>

CLAIM HANDLING CAROUSEL. PART 2

Next week - and the week after - the director is impossible to find. He is on a meeting, travelling abroad, visiting the suppliers etc. In the end, after your numerous calls, you manage to be connected to this person. During a very short conversation he tells you that... More info >>>

REFUSAL TO PROVIDE PREPAYMENT RETURN GUARANTEE

Some sellers who demand prepayment from the buyers refuse to provide payment guarantee. This is a very bad sign. In our previous publications we explained how importers can protect their prepayment by asking the seller to provide prepayment return guarantee. By issuing the guarantee the supplier’s bank commits itself... More info >>>

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