An article by TFU Executive Director Ulrike Hudelmaier
I’m sure you’ve also received emails offering you fantastic business opportunities. Most of the time, you can tell at first glance that something isn’t quite right. Deceased heads of state with millions in their bank accounts—who are looking for a new home (the millions, not the dead presidents)—surely aren’t going to lure you out of hiding. Lately, however, there have also been more sophisticated scams in which you receive specific inquiries that sound entirely plausible.
Their goal isn’t necessarily for you to transfer money right away, but rather, for example,
- the invitation from your company to Germany (so that you can apply for a visa)
- Their visit to your home to receive (overpriced) meals, gifts, etc., from you
- Their visit to the location, in order to potentially detain you there and extort a ransom
- An invoice from you or a contract with you that provides for a down payment, which may then be used to exchange foreign currency and transfer it out of the country (though the funds do not go to you).
Of course, there are still the all-too-familiar demands for advance payments for alleged bribes, fees, etc., in order to secure a deal.
The problem with this is that many international businesses follow very similar customs, and of course you also have to visit your business partners in person and treat them to a lavish meal.
So: Be careful! Trust your gut!
If a negotiation goes “too smoothly,” it is almost certainly an attempt at fraud. No genuine customer in the world will immediately agree to your asking price. And even if the other party negotiates just to lull you into a false sense of security, stay alert!
If your questions—for example, about the type you’re looking for—aren’t answered in a particularly knowledgeable way, or if you receive answers that come from their website—be careful!
Don’t fall for this scam in the first place, and cut off contact with anyone who seems suspicious. Always work with trusted local contacts. It takes time to build good connections. Don’t get involved in business deals with countries where you have no personal contacts—even indirect ones. If in doubt, the TFU and the IHK, along with their foreign trade chambers, can help you.
By the way, you’ll see good results if you establish a “Compliance Policy” in which you comprehensively list what you will and won’t do—for example, not accepting or giving gifts, no visits without face-to-face contact, not accepting or extending invitations to meals, and so on. Genuine customers are familiar with this kind of policy from large companies and are impressed (perhaps a little annoyed), while the insincere ones won’t contact you anymore… and we all want to dedicate ourselves wholeheartedly to our genuine customers, don’t we?
Best regards
Ulrike Hudelmaier
