VietnamCredit
VietnamCredit About Us Cafe€redit Contact Us
Login Register
0
USD
GO TO CART
Check out

TIPS FOR VIETNAM EXPORTERS: HOW TO AVOID DEFRAUDS

Friday 19, 01 2018
As reported by Tran Thi Thanh My, Commercial Counselor, Vietnam Embassy in Thailand, in 2016, the Vietnam Trade Counselor handled 6 such cases. In 2017, there were more than 20 cases, in which the biggest loss was up to USD65,000 dollars.
TIPS FOR VIETNAM EXPORTERS: HOW TO AVOID DEFRAUDS

Recently, Vietnam Trade Office in Thailand has continuously received assistance requests from a number of Vietnamese importers in dealing with fraudulent claims. As reported by Tran Thi Thanh My, Commercial Counselor, Vietnam Embassy in Thailand, in 2016, the Vietnam Trade Counselor handled 6 such cases. In 2017, there were more than 20 cases, in which the biggest loss was up to USD65,000 dollars. The actual number might be bigger as there could be cases not reported.

Fraudsters:

Individuals impersonating businesses, anonymous companies - not registered on the website of the Department of Enterprise Development - Ministry of Commerce Thailand, hackers ...

Methods:

Vietnam’s importers seek for Thailand manufacturers and exporters via Internet and conduct transaction when not verifying their information. Taking advantage of subjectivism, greediness and lack of foreign trade of some Vietnamese enterprises, the fraudsters offer at prices lower than market prices or low deposit if paid early.

Products: A4 paper, fruit, dried fruit…

Solutions:

To avoid the risk of losing money, enterprises when conducting foreign trade should apply following solutions:

  1. Conduct on-site investigation

  2. Request partners to provide comprehensive information with the invoice for verification

  3. Verify information via official channels

With more than 20 years of experience in information service field, VietnamCredit is confident to support business decision making process of exporters and importers, reducing potential risks. VietnamCredit has a global network of partners to provide timely information that minimizes risks in trade.

>>> 
Africa – West Asia: Opportunities for Vietnamese Exporters

You may also like

Vietnam stock market capitalization: USD 37 billion “evaporated”
Wednesday 01, 04 2020

Vietnam stock market capitalization: USD 37 billion “evaporated”

The complicated outbreak of COVID -19 has caused the world and Vietnam...
The price of rice reverses after the export suspension direction
Friday 27, 03 2020

The price of rice reverses after the export suspension direction

"Regarding the signed contracts whose goods have not been delivered yet,...
+84 37 99 44 511