What is a Cold Call Supplier Scam?
This scam targets owners of trading firms. It usually begins with a call from a person overseas, who offers the company owner exclusive rights to sell a product in Singapore. After they accept the offer, the trading firm owner receives a large order for the product, which actually comes from the scammers. To fulfil those orders, the victim orders and pays for the items. The victim soon realises that the items will never arrive and the scammers have disappeared.
- Strangers on the phone, particularly if they are overseas, offering an investment opportunity that sounds unusually attractive.
- Always check the credibility and identity of the person offering the opportunity before making a financial commitment. Research their company and address, especially if they are based overseas.
- Ask for an in-person meeting wherever possible.