Business fraud Shanghai

Report business fraud to: FRAUD REPORT. All fraud reports we receive will be submitted to Chinese Internet police in Beijing (China), the WF, EC Fraud + Cyper Crime Centre London and to German Business internet Fraud OLAF organization.


CMM-Intelligence (a must-read for anyone in a media related business) just did a story entitled, “WARNING: Alleged Fraud Scheme by Chinese Company Targets International Media Companies, on how this scam (with a slightly new twist) is being played on foreign media companies: CMM-I last week became aware of an alleged fraud scheme that currently appears to be prominent in Mainland China . A Chinese company that claims to be a Zhengzhou-based investment firm contacts Western media companies involved in video production via email to signal interest in co-producing a TV documentary series about the foreign party's home country. Once the deal terms are negotiated the foreign company is invited to come to Zhengzhou , Henan Province, to sign the contract. At the signing ceremony the Chinese reveal to the foreign representatives that the latter are expected to pay a certain “notarization” fee. Moreover, the foreigners are “encouraged” to purchase presents worth several thousand Euros in order to “save face” vis-a-vis the Chinese company's CEO.CMM-I is aware of two German companies that have fallen victim to this alleged scam thus far. In addition, several Austrian companies seem to have been targeted. We post this message here to warn our business partners — as well as their associates and partners — of this alleged fraud, and we will continue to contribute to putting a stop to such shady games to the best of our ability.

Shanghai Business Fraud

We found it very interesting that the companies that have fallen prey to the scam are German and Austrian and to a certain extent, that does not surprise me. American companies, far more than German companies (fairly or not, I am just going to assume Austrian companies are more like German companies than like US companies) tend to work closely with their lawyers. It would be the rare American company that enters into a big international deal without working with their international legal counsel.  That being the case, I would think that the American company would have been warned by their lawyer before going to China of the possibility of such a scam (we have done that a few times with our clients) or have called their lawyer to ask about the legitimacy of the Chinese company's payment request.


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