If it's too good to be true, then it probably is... the market is always right, though not always efficient!
Traders are warned to be aware of widespread fraudulent business offers on the internet. Fraudsters using elaborate websites to solicit export and import business are offering get-rich-quick deals. Traders are strongly advised to familiarise themselves with ICC rules and mechanisms that are used every day in the conduct of trade.
“For years, incautious investors and traders have fallen victim to fraudulent proposals involving paper documents quoting non-existent ICC rules, and often they have been cheated of large sums. Now it appears that the Internet is being used as a vehicle for these schemes. The terminology changes constantly, but the risk is always there,” ICC First Director Martin Wassell.
All the fraudsters regularly advertise on all the well known B2B platforms using well thought out tricks to defraud their unsuspecting victims. We would advise all parties to do their due diligence properly before committing to any business transactions, especially to not send any money as deposit for processing and transportation of their products from the processing plant to the loading port.
If you have doubts regarding any suspicious business proposals made to you, we would encourage you to report it to the relevant authorities. You can get more details on how to report any suspicious activities by following this link:
We would kindly request all fraudsters to not contact us and waste our precious time by offering us non-existent commodities at unrealistic prices. Please note that we do not under any circumstance send any money as deposit before visiting factories and processing plants to check for their existence and quality of products.
"It is better to be roughly right than precisely wrong" John Maynard Keynes