China scam
The CBM says that British companies continue to be contacted by individuals from China posing as the representatives of companies placing large orders for products from UK-based factories.
The value of the work involved tends to be large – usually over £0.5 million and sometimes more than £1 million – and the orders are often highly attractive to the targeted companies. Payment terms offered by the Chinese party are generally very favourable, for example a 30 – 50 per cent.
Any ‘contracts’ signed turn out to be merely part of an elaborate ruse. Many of these requests emanate from Yunnan, Guangdong and Hainan provinces.
