Continously warn exporters about many fraudulent tricks

DNHN - The Vietnam Trade Promotion Center in New York (USA) has issued a warning that some Vietnamese enterprises have suffered losses in the performance of commercial contracts with partners in the US market, primarily due to fraud or partner bankruptcy and inability to pay.

Recently, the Trade Office of the Vietnamese Embassy in Morocco issued an urgent warning to Vietnamese exporters to avoid dealing with fraudulent importers with the surname Khalid and the company name KN Universe Plastic.

In particular, the aforementioned subject defrauded a Vietnamese raw plastic export company by claiming that a family member had COVID-19 and promising to pay later to buy time and collude with related subjects. Customs clearance but no payment; avoid all contact.

Recently, a seafood export enterprise in Ho Chi Minh City sent a letter of "request for assistance" to the Vietnamese diplomatic missions regarding a partner in Sri Lanka fraudulently appropriating two shipments worth nearly 113,000 USD.

The Sri Lankan partner is Northern Star Trading Colombo PVT Company.
The Vietnam Trade Office in Morocco discussed and implemented professional measures to handle the case and limit risks as soon as the information was received.

However, according to shipping company information, Khalid and KN Universe Plastic cleared the shipment for theft on January 29, 2022.

The delivery condition is CIF Colombo (delivery at Colombo port), and the payment condition is D/P 100 per cent, according to the original contract (thanks to the collection of documents).
After receiving the products and submitting the first batch of documentation, the buyer claims that the D/P payment charge via the bank is too high and demands that the payment method be changed to T/T (telegraphic transfer).

Fraud is not limited to prospective markets like the United States, Canada, and the United Arab Emirates. The Vietnam Trade Promotion Center in New York (USA) specifically cautioned that several Vietnamese firms incurred harm in the fulfilment of commercial contracts with partners in the US market, mostly owing to being duped or the partner going bankrupt and being unable to pay.

The Vietnam Trade Office in the United Arab Emirates (UAE) has also issued a warning concerning the fraudulent behaviour and commercial fraud of some firms in this nation.

During the COVID-19 epidemic, the Trade Office and the Vietnamese Embassy in the UAE received, discovered, and handled several cases in which Vietnamese firms were invited to propose to sell, acquire, and sign delivery contracts.

Commercial transactions indicate evidence of fraud and deception by several UAE-based firms. Unpaid delivery, fraudulent paperwork, even bank papers to obtain products, and "setting" individuals to obtain export documents are only a few examples of prevalent kinds of fraud.

Minh Tu