About fraud

NOW YOU MUST BUY OUR PRODUCT

Tricky sellers use this method to press the buyer into placing the order. Sometimes it may work. Some companies use this technique to sell their products even if a formal contract was not signed between the parties. In most cases it has no effect but may work with an... More info >>>

SHAM BIG BUYERS

This type of buyer not only creates a lot of troubles for sellers but can lose the money themselves in a failed deal. Many suppliers are very well familiar with such buyers and have experienced financial losses after trying to do business with them. Unfortunately such situations cannot be... More info >>>

FAKE BANK GUARANTEES

Want to lose your money? Accept a tricky bank guarantee and see what happens. ICC´s Financial Investigation Bureau (FIB) is advising the investment community to be on the look out for a variety of false Bank Guarantees. Two recent high-profile cases have highlighted the importance of carefully reviewing financial... More info >>>

TRICKY WAY TO SELL DOMAINS. IN BULK.

Fraudsters use this technique to sell you a batch of domain names similar to yours. This method of domain selling usually originates from China. If you want to protect your brand and domain name from being registered in Asian zones (.cn, .asia, .hk etc.) by an investment company, just... More info >>>

CHECK THE FIRM BEFORE THE PAYMENT, NOT AFTER!

By checking your new supplier before you make the prepayment rather than after will save your money and diminish the chances of you being cheated. This situation is very common when the buyer places an order with a new overseas producer. Often the producer is located in a far... More info >>>

CHANGE THE NAME AND CONTINUE CHEATING

By closing one company and establishing another one scammers can continue cheating their business partners. This type of fraud is well known in all industries but this fact does not diminish its popularity. It is used both by dishonest suppliers and buyers and happens all over the globe. A... More info >>>

322.000 USD THROWN OUT ON THE ROAD

Yesterday an official of the Russian Fisheries Agency (Rosrybolovstvo) thrown out on the road 322.000 USD he had received as a bribe. The official received a bribe from a company involved in the organisation of recreational fishing in ponds near Moscow. The paid amount was very impressive: approximately 322.000... More info >>>

LANGUAGE ISSUES IN BUSINESS

A very tricky fraud method was used by a Chinese importer. This information was provided by one of our clients who had become the victim of a sophisticated scam. The exporter was approached by a Chinese company interested in purchasing his products. The buyer sounded very professional and nothing... More info >>>

REFUSAL TO ACCEPT A LETTER OF CREDIT

If your supplier refuses to accept a Letter of Credit be careful. It might be a trap. Refusal to accept a Letter of Credit is a very serious red flag. This situation is very common when you have to source the product from a new overseas supplier. You send... More info >>>

PAYMENT DEDUCTION UNDER IRREVOCABLE LETTER OF CREDIT

Sometimes the issuing bank deducts a certain amount from the irrevocable Letter of Credit and the seller receives less money. One of our visitors - let’s call him Exporter A - described the following situation. His company made a contract with a foreign buyer to supply him with a... More info >>>

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