The Ministry of Industry and Trade has warned that businesses must carefully verify information on their business partners from the US before making deposits and payments or doing business as some cases of fraud have been reported recently.

Cashew being processed for export. Firms were urged to verify information of their business partners from the US carefully to avoid being swindled. 

The Vietnamese trade counselor in Houston, Texas, received several requests from Vienamese firms recently asking for support to tackle fraud they faced in doing business with US firms.

Some Vietnamese firms sent payments to banking accounts US firms provided through emails but then found the accounts were falsified as the email was hacked to appropriate money.

The trade counselor in Houston recommended that Vietnamese firms verify their business partners’ information carefully, especially when there were any changes in address or banking accounts.

Vietnamese firms should also be wary of working with sketchy companies such as those headquartered in Europe but with banking accounts in the US.

For new business partners, careful verification of information was of critical importance, the ministry said, urging Vietnamese firms to verify information through different channels.

They could contact associations to check the information of their members.

In addition, Vietnamese businesses can contact trade counseling agencies in the US for support.

The Vietnamese trade counselor has three branches in the US, in Washington DC, Houston and San Francisco.

Vietnamese firms were also urged to select safe payment methods.

Last week, the ministry also urged Vietnamese firms to check the information of Thai business partners carefully to avoid being swindled. — VNS