Posted on 11/08/2011 in category BIR

Beware of Fraud!

An important message from the BIR International Trade Council

The ITC wants to draw BIR members’ attention to the ongoing problem of fraud by unscrupulous companies and individuals in the recycling industry. More specifically, the following complaints were raised in the recent past:
 
In some cases suppliers receive offers with photos of excellent quality material by a seemingly respectable company and are asked to pay a substantial deposit. However, the material they receive is very different from what has been shown on the photos, quite often of low or even almost zero value.
Other scams involve forged photos of containers being loaded and of surveyor reports. Payment is made against what appear to be bona fide documents (in come cases Letters of Credit) but again the material received is of little or no value.
Recent scams involved several BIR member companies that were ‘cloned’ on trading websites by individuals purporting to represent a renowned and trusted company, often using their officially registered address and even their AQSIQ licence number. Cheap offers are made and a request for deposits is made. Needless to say the material is never shipped.
 
Therefore, the ITC recommends the following:
Only trade with suppliers and customers you know well.
When seeing ‘cheap’ offers from renowned companies on trading websites, contact the company directly to verify.
Be very careful when entering into business relations with companies you have never traded with before.
 
Knowing your supplier and customer is key to a successful and safe deal!

The ITC wants to draw BIR members’ attention to the ongoing problem of fraud by unscrupulous companies and individuals in the recycling industry. More specifically, the following complaints were raised in the recent past:

  1. In some cases suppliers receive offers with photos of excellent quality material by a seemingly respectable company and are asked to pay a substantial deposit. However, the material they receive is very different from what has been shown on the photos, quite often of low or even almost zero value.
  2. Other scams involve forged photos of containers being loaded and of surveyor reports. Payment is made against what appear to be bona fide documents (in come cases Letters of Credit) but again the material received is of little or no value.
  3. Recent scams involved several BIR member companies that were ‘cloned’ on trading websites by individuals purporting to represent a renowned and trusted company, often using their officially registered address and even their AQSIQ licence number. Cheap offers are made and a request for deposits is made. Needless to say the material is never shipped.

Therefore, the ITC recommends the following:

  1. Only trade with suppliers and customers you know well.
  2. When seeing ‘cheap’ offers from renowned companies on trading websites, contact the company directly to verify.
  3. Be very careful when entering into business relations with companies you have never traded with before.

Knowing your supplier and customer is key to a successful and safe deal!