Trade Prevention Strategies in Canton Fair

It is not an exaggeration to describe the current international trade as "changing and dangerous". In the past, as long as export companies successfully received the order, once the buyer paid, everything would be fine and the cash would be safe. Now the bag may not be safe, it may be a big trap. A little carelessness of export enterprises may lead to disaster. This is not alarmist talk, but a real case that has frequently occurred in small and medium-sized enterprises in recent years.

In recent years, hacking cases have occurred frequently, and the methods have become more and more sophisticated. Criminals are usually "willing to let their children play wolves", which makes it hard to guard against. "Network hackers" illegally obtained the transaction information of buyers and sellers, forged mailboxes, and instructed foreign buyers to pay the payment to a third-party account, which caused the export company to fail to collect the payment as scheduled, and added a new deception to let an innocent third-party account help it To achieve fraud, the means are more complex and concealed.

In the increasingly complex process of foreign trade, a series of problems caused by the rapid development of Internet and other information technologies are worth learning for export enterprises. To this end, the following relevant recommendations are made:

(1) Take orders carefully. Fully understand the buyer's credit situation before accepting the order
It is recommended that export companies verify the true identity of the buyer company from multiple information channels, especially the first-time buyer. It is recommended that Chinese enterprises require the buyer to provide the formal registration documents of the company and the identity certificate of the person in charge (such as a passport, etc.) when receiving such an order from a buyer. You can also get information through the economic and commercial office of the Chinese embassy in the local area or the Ministry of Industry and Trade Promotion, industry associations, etc., and compare the information provided by the buyer with the credit report of China Credit Insurance Corporation and the public information on the Internet in detail and carefully, and based on the credit report or public information The contact information recorded in the information should directly contact the buyer company to verify the authenticity of the trade and the order. Do not conduct the transaction rashly without sufficient investigation, and it is very easy to fall into the trap of fraud.

(2) Do not take advantage of petty advantages. Raise vigilance and strengthen account management
For this reason, export enterprises should strengthen the management of accounts, strictly abide by the relevant regulations on foreign exchange management and anti-money laundering, formulate strict systems to strengthen management of the entire export process, operate rigorously, and be careful to guard against fraud.

(3) Improve fraud prevention for specific countries

In recent years, online trade fraud has been rampant. According to SINOSURE’s analysis, fraud cases in Nigeria, Benin, Uganda, and South Africa in Africa, Romania, Greece in Europe, Turkey, India, and Cambodia in Asia have occurred frequently, and the forms are more complicated and hidden. Enterprises should be vigilant when engaging in foreign trade and strengthen risk prevention for buyers from these countries. If this kind of trade occurs, export companies should pay more attention to buyers who are quick to complete transactions and are not sensitive to prices. If in doubt, they can consult with Sinosure. If they are unfortunately involved, they should report the case to the public security agency in time and cooperate with the investigation.