Buyers, Beware of E-mail Scams!

E-Mail Scams Rising

During the past month, we have again dealt with clients who have been victims of a new type of e-mail scam. Basically, what the scam is about is that someone hacks into the e-mail accounts that are belonged to suppliers in Asia. The hacker sends an e-mail, usually an invoice, through that account and tells that due to new company policies, they are changing bank accounts to a bank in another country, usually somewhere in Europe. In worst cases the client pays the money to the account and the supplier hasn’t even started the production of the goods.

China Law Blog has written a really good article specifying what is the email scam about. Read it here.

Check also this article from last year in Globalsourcingblog about scams.

Good sources who have been reporting of similar e-mail hackings

Also Qualityinspection.org wrote last year that scams related to email system hacking are on the rise. The article also tells what is the supplier’s responsibility in these cases and how to avoid falling victim to this scam?