Three deals we saw first-hand. Every one looked professional. Every one could have been stopped by a check that costs less than the bank charges.
Case 1 · Edible oil · Africa → USATwo deposits. Zero containers.
A US buyer needed sunflower oil fast. The "exporter" sent professional-looking documents and asked for a factory-visit fee. The visit kept being delayed, so the buyer, under pressure, paid a 30% deposit for 5 containers, then another 30% for 6 more. Nothing was ever shipped. Only excuses arrived.
What would have stopped it
- Gate 4, cargo is real: a site visit by our field officer before any money moves.
- Gate 5, payment vs proof: no advance deposit before proof of product.
One site visit costs less than 1% of what was lost.
Case 2 · Sugar & fuel allocations · OffshorePerfect paperwork. No product.
A "trading house" with flawless company documents, a professional website and confident directors claimed allocations from major refineries. Behind it: an offshore company registered in a secrecy jurisdiction, directors in two different countries, a recent name change, and a bank account in a third country, ready to discount the buyer's LC for cash. There was never any allocation.
What would have stopped it
- Gate 1, company is real: beneficial owners traced, offshore shell and name history flagged.
- Gate 3, documents are real: the allocation confirmed directly with the refinery, not by their letter.
- Gate 2, money is real: the bank account country checked against the company country, and the LC worded so it cannot be transferred or monetised.
Good paper is the easiest thing to fake.
Case 3 · Bank instrument · Buyer sideThe SBLC that no bank ever issued.
A buyer presented an SBLC as proof that payment was guaranteed. It looked real: logo, SWIFT format, signatures. It was forged. A seller who loads cargo against a fake SBLC has no recourse.
What would have stopped it
- Gate 2, money is real: every bank instrument authenticated through your own bank, bank to bank, by SWIFT. A PDF or an email is never proof.
If your own bank hasn't confirmed it, it doesn't exist.
Based on real cases seen by our founder. Names, places and details have been changed or removed.