Two online foreign trade complaints

First we can find one foreign trade complaints on a famous B2B foreign trade portal as following.

We were recently been cheated by a Chinese company by the name of YULONG TRADING CO. LTD. We ordered 550 pieces of Non-Branded 2GB Micro SD Cards. The company assured us that the SD cards are of excellent quality and has full memory. First they wanted us to pay to their personal account (the reason they gave us was that we can save on taxes).

The second foreign trade case is narrated by the victim as following:

Shanghai Hongzhi Construction Engineering Co Ltd has just defrauded our company Miners Capital t/a Federal Iron Group, a 30% deposit on a used wheeled Loader!

We in good faith paid the 30% deposit from the Pro Forma Invoice they sent and as the funds were in transit, (two days), they sold the machine to someone else; they may not have the machine any more, just pictures.

Foreign trade scams always happen so both parties should keep cautious.

We can not trust any companies required to pay into personal account. We must check out the account is a company account but not a personal one, which signals the payer may be cheated.

When we do foreign trade business online, we have two options of payment, one is pay online, and the other is pay offline with the business partner directly.

In fact we can choose online payment model, which may cost a little more handling fees, we can avoid the above-mentioned payment scams.

IBUonline is a B2B foreign trade platform, which has provided secured payment for both parties to complete the transactions online. If there is a large dispute, the platform will be involved in settling the case.

When the case is confirmed by IBUonline, scammers’ name will be removed from the website.