Number of common forms of international trade fraud in Vietnam

Common forms of international trade fraud in Vietnam (Source: Internet)

Official Dispatch 4188/VPCP-KTTH dated July 5, 2022 stipulates a number of international commercial fraud related to Vietnamese enterprises and recommendations on the matter.

Specifically, some common forms of international trade fraud are as follows:

(1) Import and export fraud, nonpayment, and failure to deliver goods as agreed:

Some Vietnamese enterprises have recently been scammed and appropriated shipments in Sri Lanka; being forced by the Algerian partner to reduce the price or not receive the goods after the goods have arrived at the port (for the reason that the price of the goods is low or that a cheaper seller can be found); or being disconnected and not receiving the shipment in Brazil.

(2) Establishing a "ghost" company, impersonating a business and providing fake documents proving the company's capacity for transactions:

Subjects in Mexico use deception to pose as representatives of brokerage firms, government officials, or financial institutions in order to gain trust, seduce deposit money, and then appropriate;

A Vietnamese enterprise received an offer to conduct marine market research via email from a Belgian shipping company and received no payment after submitting the research results.

(3) Forging documents, representing the bank to get original documents, appropriating goods without payment:

 Fraudsters forge accounts at reputable banks or impersonate bank officials, collude with international fraud groups to forge papers and documents, and install people to get original documents and appropriate shipments. .

(4) Fraudulent brokerage projects involving preferential loans, assistance, and bidding

Some Vietnamese enterprises were invited to participate in bidding packages in Africa and received notices of winning bids along with a request to transfer fees to complete bidding procedures. After receiving the money, the subjects cut off contact.

See more at Official Dispatch 4188/VPCP-KTTH dated July 5, 2022.

Quoc Dat

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