As a young foreign trade businessman in Hong Kong, Mr. Li has been working hard to develop his international trade business. However, he recently fell into a huge fraud in foreign trade transactions.

Experience of being cheated:

Mr. Li met a potential partner named Anna at an international trade show who claimed to be from Germany. Anna claimed that she represented a large German company and was interested in cooperating with Mr. Li's company to order bulk commodities with a total value of approximately US$150,000.

The transaction seemed to go smoothly, Anna provided the contract and various documents, everything seemed very formal. She asked Mr. Li to pay part of the purchase price as a deposit so that she could arrange logistics and transportation. Mr. Li immediately transferred US$150,000.

However, a few days later, Anna suddenly disappeared and stopped answering the phone. Mr. Li went to the so-called company address, but found that the company did not exist there at all. He realized he had been scammed and lost $150,000.

Scam analysis:

Fake trading partners: Scammers pretend to be partners and forge formal transactions.

Create an emergency situation: Create an emergency situation to require a deposit, forcing the victim to transfer the money as soon as possible.

Fake Documents: Providing contracts and documents that appear to be legitimate to increase the credibility of the scam.

How to prevent:

Verify carefully: For unfamiliar partners, especially in international trade, be sure to carefully verify their identity and company information.

Don’t trust emergencies easily: Don’t act hastily because the other party claims there is an emergency, but make a decision after careful consideration.

Independent Verification: Independently verify the authenticity of documents and contracts, and do not simply trust the documents provided.

Be careful with transfers: Before making large transactions, make sure you know the creditworthiness of the other party and use a secure payment method, such as bank transfer.

Consult a professional: If you have any concerns about a transaction, you can seek the advice of a professional or a lawyer.

Through this case, we can see that there is also a risk of fraud in international trade. Be extra careful and take precautions to protect yourself and your business. If you feel uneasy, you should report it promptly and cooperate with the police. Stay tuned to our anti-fraud awareness series for more information on different types of scams and tips on preventing them.