• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Case Study Highlights Risks of Payment Scams in International Trade

Case Study Highlights Risks of Payment Scams in International Trade

01/06/2025
Supreme Court to Decide Future of Trump-Era Tariffs

Supreme Court to Decide Future of Trump-Era Tariffs

09/18/2025
Trump’s Tariffs Impact Fortnum & Mason’s Tea Exports to U.S.

Trump’s Tariffs Impact Fortnum & Mason’s Tea Exports to U.S.

09/18/2025
Retail Sales Rise 0.6% in August Amid Ongoing Tariff Pressures

Retail Sales Rise 0.6% in August Amid Ongoing Tariff Pressures

09/18/2025
Trump’s UK Visit Highlights Trade Moves and Tariff Discussions

Trump’s UK Visit Highlights Trade Moves and Tariff Discussions

09/18/2025
What tariffs has Trump announced and why?

What tariffs has Trump announced and why?

09/18/2025
Hands holding a digital globe surrounded by global business icons. Goenvi Technologies. - Supply Chain News

Goenvi Technologies Nominated for the Go Global Awards 2025

09/18/2025
Kamsiparts Automotive Nominated for Go Global Awards 2025 in London

Kamsiparts Automotive Nominated for Go Global Awards 2025 in London

09/17/2025
Sow Property Consult Limited: Driving Excellence in Transport and General Trading

Sow Property Consult Limited: Driving Excellence in Transport and General Trading

09/17/2025
Esusu Africa: Advancing Digital Financial Inclusion Across Nigeria

Esusu Africa: Advancing Digital Financial Inclusion Across Nigeria

09/17/2025
B.Est Solutions Estonia Nominated for the Go Global Awards 2025

B.Est Solutions Estonia Nominated for the Go Global Awards 2025

09/17/2025
Emerge and Rise Nominated for the Go Global Awards 2025

Emerge and Rise Nominated for the Go Global Awards 2025

09/17/2025
CODERS Nominated for Go Global Awards 2025 in London

CODERS Nominated for Go Global Awards 2025 in London

09/17/2025
supplychainreport
Thursday, September 18, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Case Study Highlights Risks of Payment Scams in International Trade

by Geraldine S.
01/06/2025
in Fraud & Scams

Written by: Abhishek Srivastava – Exim Coach

International trade transactions can present significant challenges and risks, particularly when dealing with overseas suppliers. A recent case study by Abhishek Srivastava, an international business consultant, underscores the importance of due diligence in safeguarding businesses against fraudulent practices in global commerce.

YOU MAY ALSO LIKE

Social Media Videos Raise Questions on Luxury Goods Manufacturing, Prompt Denials and Investigations

Rise in Scam Cases Reported Across Australia

The case study focuses on an Afghan importer who fell victim to a sophisticated scam while working with a Chinese supplier. After completing two successful transactions, the importer transferred a substantial payment of 400,000 RMB for a third order. This time, however, the supplier executed a fraudulent scheme that resulted in the importer losing the entire sum.

The fraud involved the alteration of a proforma invoice and a request to send payment to a personal account, ostensibly to avoid foreign exchange conversion charges. This deviation from standard business practice raised red flags, but the importer, who had developed trust based on previous transactions, proceeded with the payment. The supplier ultimately denied the transaction and failed to deliver the goods.

Key takeaways from the case study highlight critical lessons for businesses engaged in international trade:

  • Always Verify and Trust, but Verify Again: While initial transactions may build trust, it is crucial to thoroughly vet suppliers before committing to high-value orders.
  • Never Transfer Funds to Personal Accounts: Payments should only be made to verified company accounts to ensure accountability and traceability.
  • Identify Red Flags Early: Changes in documents, unexpected requests, or unfamiliar payment methods should be carefully scrutinized.

The case study also provides practical steps businesses can take to mitigate the risks of such scams. These include reporting fraudulent activities to local trade authorities, pursuing legal action where possible, and utilizing international arbitration platforms for dispute resolution.

Abhishek Srivastava, a seasoned expert in international business, emphasized the widespread nature of such fraudulent practices. “Scams like these are unfortunately more common than businesses realize. Vigilance and rigorous due diligence are essential to protect investments in global trade,” he noted.

The full case study offers valuable insights to help businesses navigate the complexities of international trade and avoid falling victim to similar scams.

For further information, contact:

Exim Coach
Abhishek Srivastava – Founder
International Business Consultant
Phone: +918874567555

About the Author:
Abhishek Srivastava is a renowned international business consultant and the founder of Exim Coach, a firm dedicated to mentoring businesses on navigating the global marketplace. With years of experience in cross-border transactions, he works closely with entrepreneurs to help them avoid risks and make informed decisions in international trade.

Stay updated with the latest in supply chain news at The Supply Chain Report. For free international trade tools, visit ADAMftd.com.

#InternationalTrade #BusinessScams #DueDiligence #GlobalCommerce #TradeSecurity

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.