Dismass
Member
- Mar 20, 2014
- 42
- 7
Afraid of losing all your money when youre importing from China?
You should be, and youre not alone. Paying frauds are one of the most common forms of scam, and they are targeting small to medium sized businesses sourcing products on Alibaba.com. In the last few years, Ive seen small importers losing hundreds of thousands of dollars in this type of scam.
We also had one of our customers telling us that, before she knew our company (Traders Easy Way) her money was stolen by a company that she believed was real in Shenzhen! She found that company on Alibaba, after she had sent the money to the company! There was no reply from them; later on she confirmed that was a scam.
Why this fraud still works?
So how do they do it? Very Simple. All the scammers what they do is, to hack the suppliers (the company) email account, check the sent box and then replace the beneficiary, the bank account number and the SWIFT code. The next thing they do is to resend the invoice, often together with a simple excuse for sending the same invoice twice. So if you are not careful, you will not notice that the information on the invoice has been changed.
In this situation, when you send the money to the supplier, the money will go to the third part without you knowing! You must be very cautious when buying from China especially when you are doing that for the first time.
How to prevent this type of payment fraud?
Traders Easy Way-We Supply According to your Budget - Don't get fooled - Payment fraud
You should be, and youre not alone. Paying frauds are one of the most common forms of scam, and they are targeting small to medium sized businesses sourcing products on Alibaba.com. In the last few years, Ive seen small importers losing hundreds of thousands of dollars in this type of scam.
We also had one of our customers telling us that, before she knew our company (Traders Easy Way) her money was stolen by a company that she believed was real in Shenzhen! She found that company on Alibaba, after she had sent the money to the company! There was no reply from them; later on she confirmed that was a scam.
Why this fraud still works?
So how do they do it? Very Simple. All the scammers what they do is, to hack the suppliers (the company) email account, check the sent box and then replace the beneficiary, the bank account number and the SWIFT code. The next thing they do is to resend the invoice, often together with a simple excuse for sending the same invoice twice. So if you are not careful, you will not notice that the information on the invoice has been changed.
How to prevent this type of payment fraud?
Traders Easy Way-We Supply According to your Budget - Don't get fooled - Payment fraud
