General

The current description of international trade as "ever-changing and perilous" is not an exaggeration. In the past, as long as export enterprises smoothly received orders, once the buyer made payment, everything was safe, and cash was safe in the bag. Nowadays, falling into a bag may not be enough, it may be a big trap. If export enterprises are not careful, there may be unexpected disasters. This is not a alarmist statement, but a real case that has frequently occurred in small and medium-sized enterprises in recent years.

In recent years, hacker cases have been frequent and the methods have become increasingly sophisticated. Illegal elements often "give up their children to trap wolves", making people's defense less secure. After preliminary investigation by China Export and Credit Insurance Corporation, the above-mentioned case is an upgraded version of the "cyber hacker case". The "cyber hacker" illegally obtained transaction information from both buyers and sellers, forged email addresses, instructed foreign buyers to pay the payment to a third-party account, causing the export enterprise to fail to receive payment as scheduled, and added new scams, allowing an innocent third-party account to help it achieve fraud, with more complex and covert methods.

In the increasingly complex foreign trade process, a series of problems caused by the rapid development of information technology such as the Internet are worth learning from for international trade export enterprises. To this end, China Export&Credit Insurance Corporation proposes the following relevant suggestions:

（1） Take orders with caution. Fully understand the buyer's credit status before accepting the order

It is recommended that export enterprises verify the true identity of the buyer's company through multiple information channels, especially for first-time buyers. It is recommended that Chinese enterprises, upon receiving such buyer orders, require the buyer to provide their company's official registration documents and proof of identity of the responsible person (such as passport, etc.). In addition to obtaining the buyer's credit report from a specialized credit institution and obtaining buyer information, they can also obtain information through the business office of the Chinese Embassy in the local area, the Ministry of Industry and Trade Promotion, industry associations, etc, And carefully compare the information provided by the buyer with China Export&Credit Insurance Corporation's credit report and online public information, and directly contact the buyer's company based on the contact information recorded in the credit report or public information to verify the authenticity of the trade and orders. Do not engage in transactions without sufficient investigation, which can easily lead to fraud traps.

（2） Don't take advantage of small gains. Raise vigilance and strengthen account management

In this case, export company A easily agreed to help company B post accounts, giving fraudsters an opportunity to take advantage of it, almost falling into a trap and being scammed, and almost being accused of participating in fraud, with suspicion of money laundering. Under this case, Company A provided sufficient evidence to prove its innocence, including an explanation of its order negotiation process, correspondence, etc. The evidence was sufficient and the relevant funds were returned without leaving any stains. But the act of easily agreeing to help others transfer RMB and post accounts is not allowed by foreign exchange management and anti money laundering laws, and Company A was also fined 2000 yuan by the foreign exchange management center for this. Therefore, international trade export enterprises should strengthen account management, strictly comply with relevant regulations on foreign exchange management and anti money laundering, establish strict systems to strengthen management, operate rigorously, and be cautious in preventing fraud for the entire export process.

（3） Improve fraud prevention for special countries

In recent years, online trade fraud has been rampant. After sorting out by China Export&Credit Insurance Corporation, there have been frequent fraud cases in Nigeria, Benin, Uganda, South Africa, Romania, Greece in Europe, Türkiye, India, Cambodia in Asia and other places, and the forms are more complex and hidden. International trade export enterprises should be vigilant when engaging in foreign trade and strengthen risk prevention against buyers in these countries. If such trade occurs, export enterprises should pay more attention to buyers who are quick to close transactions and not sensitive to prices. If they have any questions, they can consult China Export and Credit Insurance Corporation. If they are unfortunately recruited, they should report the case to the public security organs in a timely manner and cooperate with the investigation.