About fraud

QUIT EMPLOYEE SCAM

This is a very serious scam, which we have recently discovered. The main idea of the scam is to avoid responsibility for non-payment, bad quality goods supplied or other breach of the contract. This scam can be completed both by the importer and exporter, but also is used by dishonest service... More info >>>

"SICK" EMPLOYEE PROBLEM

This method is often used to postpone the payment, to delay the delivery or put on hold claim settlement. When the buyer receives the goods, it is apparent that the quantity and/or the quality do not fit the agreed terms. The buyer paid the goods in full before he had a... More info >>>

SUDDEN INCREASE OF PURCHASE VOLUME = POSSIBLE SCAM

This type of scam is very common now, during the global economic crisis. It can be used not only by a professional scammer, but by a reputable company, which finds itself in trouble. An import company has been purchasing goods from its partner for a long time. All the deliveries are agreed on... More info >>>

NAME SCAM

In this scam a fraudulent company is using a name that sounds almost identical to the name of a company well-known in the industry. Alternatively, the scammer pretends to be a branch of a well known company. A supplier is contacted by an overseas buyer with a quotation request. The name... More info >>>

LETTER OF CREDIT SCAM

Letters of credit work extremely well in international trade. Nevertheless, there have been several cases of successful fraud, committed by the sellers. A buyer opens a letter of credit in favour of an overseas seller. If the parties have no experience with each other, the importer takes a considerable risk... More info >>>

ATTENTION: SCAMMERS! PRESS RELEASE FROM TRANSNEFT

Scammers are stealing the identity of a Russian oil transport company and “selling” crude oil on its behalf. During the last months Transneft has received a number of letters from foreign companies with requests to confirm authenticity of the contracts, guarantee letters, agreements, invoices and other documents connected to the... More info >>>

EXTREME DELAYS WITH PAYMENT CAN BE INTERPRETED AS A SCAM

Delays with payment are very common in all industries and can cause serious losses for the sellers. It often happens that the buyer pays the supplier with extreme delay. 30 days credit can easily become 60 or 90 days or even more. Once the goods are finally paid, the... More info >>>

BROKEN PROMISES TO PAY

A clear sign of dishonest behaviour is when the debtor breaks his promises to pay many times. Many companies have experienced such a situation: the goods are being delivered and the payment is not received in due time. The seller gives the buyer further time to fulfil his obligations. Still no... More info >>>

MIDDLEMAN SCAM

Using this pattern a dishonest supplier (or buyer) can avoid paying commission to a middleman and gain a direct contact with his counterparty. Middlemen exist in almost every industry. Usually they are doing a lot of work to connect two ends and expect to receive commission for the services. One of the... More info >>>

DISHONEST MIDDLEMAN FRAUD

A dishonest middleman can use these tactics to disclaim any responsibility for the goods or payments. This scam pattern is often used by dishonest traders to dodge responsibility for the goods or any other claims. A buyer makes a purchase through a trading company. The contract is made between the... More info >>>

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