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Avoiding buyer-scam techniques requires a "Zero Trust" approach, as scammers now use AI-generated documents and deepfake technology to appear legitimate.

Common Buyer-Scam Techniques and How to Avoid Them

  • The Overpayment Scam: A "buyer" sends a forged cheque or digital payment for more than the order value, then asks you to refund the "excess" via an untraceable method (like crypto or wire).
    • Prevention: Never refund money from an un-cleared payment. Wait for your bank to confirm that funds are irreversible and settled.
  • The "Advanced Fee" or "Registration" Scam: A buyer promises a massive government or corporate contract but insists you first pay a "registration fee," "legal stamp fee," or "agent commission" to a local representative.
  • Prevention: Legitimate buyers do not ask suppliers to pay to get a contract. Use the International Trade Administration or your local embassy to verify such requirements.
  • Prevention: Always verify bank account changes through a voice or video call to a previously known contact. Never trust an email alone for financial changes.
  • Prevention: Use globally recognized freight forwarders or your own trusted logistics partner. Use the FIATA Directory to verify freight forwarders.
  • Prevention: Always have your own bank verify the authenticity of an LC through the SWIFT network. Do not ship until your bank confirms the LC is operative.
  • Prevention: Suggest internationally recognized labs like SGS or Bureau Veritas. If they refuse, it is a scam.
  • Business Email Compromise (BEC): A scammer hacks your buyer’s email and sends a message stating their "bank details have changed."
  • The Shipping/Logistics Scam: The buyer insists on using their "preferred" shipping agent who requires an upfront payment from you. The agent is actually the scammer.
  • The Fake Document Trap: Scammers provide realistic but forged Letters of Credit (LC) or bank guarantees.
  • The "Sample" or "Testing" Fee Scam: For high-value machinery or chemicals, the buyer demands expensive "independent testing" at a specific laboratory they control.

 

krishna

Krishna is an experienced B2B blogger specializing in creating insightful and engaging content for businesses. With a keen understanding of industry trends and a talent for translating complex concepts into relatable narratives, Krishna helps companies build their brand, connect with their audience, and drive growth through compelling storytelling and strategic communication.

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