China Metal Fraud- How About That Low Price Now?

Saw a post on LinkedIn regarding fraud on Alibaba.com involving steel.

If the product never arrives, it’s not a good deal.

According to the Linked In post, they fell victim to a scheme like the one described by Galvamet.

“Swindlers have appeared on the metal market of China.

“The process begins when the swindlers offer their customers at an affordable price. Money is then required to be transferred in advance at the rate of 30% as a prepayment. There is a 70% discount on loading the goods on board the ship and a variety of different tricks to make sure the work is only done when there is prepayment.”

The company identified by the poster was Tianjin Jianghailong Steel Co. Ltd.

If you are a victim of Tianjin Jianghailong Steel Co., Ltd., you should contact the Economic and Financial Crimes Commission Republic of China.

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