About fraud

“WE MENTIONED YOU AS A REFEREE” SCAM

Trying to receive preferential treatment from the bank and business partners some companies can ask you to give them excellent references. This type of scam is usually used by fraudsters positioning themselves as importers from African or Asian countries. The scheme works as follows: You are contacted by an... More info >>>

“SEND THE GOODS TO ANOTHER CONSIGNEE” SCAM

This type of scam happens very often and can be very painful for the supplier. This situation can occur in almost any industry branch. You, as a supplier, have started co-operating with a new foreign importer. The first deals are made on pre-payment or L/C terms. You have completed... More info >>>

WHERE PEOPLE STEAL MOST

Which country has the highest shrinkage rate in retail trade? Stealing from retailers is a serious problem in any country. The Centre for Retail Research in Nottingham, UK conducted a research into this issue. The Shrinkage Barometer covers 41 countries in the world. According to the research, the total... More info >>>

WHAT PEOPLE STEAL MOST?

What products are most popular among shoplifters? According to The Centre for Retail Research in Nottingham, UK, the most-stolen items of retail merchandise within the 41 participated countries included branded and expensive products: cosmetics and skincare; alcohol; womenswear/ladies´ apparel; perfume and fine fragrances; and designer wear. Other highly stolen... More info >>>

TYPES OF BANK GUARANTEES

There are three main types of bank guarantees that are widely used in international trade. Payment Guarantee is used in international transactions alongside with the Letters of Credit. The purpose of the guarantee is to assure the supplier (beneficiary) that the goods will be paid by the buyer (applicant)... More info >>>

FRAUDS WITH BANK GUARANTEES

There are several types of fraud you should be aware of when working with bank guarantees. One of the most popular scam with bank guarantees is when the fraudsters invite the victims to participate in an investment programme with extremely high returns. The criminals claim that they can buy... More info >>>

“LADY” FRAUDSTER CAUGHT

The British police have caught and prosecuted a veteran con artist. FIB expertise helps catch ‘Lady’ fraudster. With the assistance of ICC’s Financial Investigation Bureau (FIB), law enforcement officials in Merseyside, northwest England, recently captured and successfully prosecuted self-styled ‘Lady’ Geraldine Travers. A veteran con artist, Travers is currently languishing... More info >>>

OLD LOGOS AND NAMES USED IN SCAM

Sometimes newly registered companies use the names and logos of their predecessor. This may cause trouble for their counterparties. This type of fraud is often used by dishonest, small trading companies that are acting as a middleman between the buyer and the seller. Let’s look at the following situation:... More info >>>

“PUNISH ME IF YOU CAN” SCAM

This scam is often used against business partners from distant countries who need visas to travel abroad. The scenario is very simple and it is often used against buyers located in distant countries. Often these countries have a “bad image” because of numerous frauds originating from them and any... More info >>>

UNFAIR CLAIMS

Dishonest buyers often make unfair claims to receive price reduction from the seller or pay nothing for the goods at all. This type of fraud is used when the goods are purchased on open credit or when they are paid by a Bank guarantee. It is especially popular when... More info >>>

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