Matrade exposes scam involving fake procurement orders, advance payment demands
BUSINESSES are being targeted by scammers posing as Malaysia External Trade Development Corporation (Matrade) officers, using forged government procurement documents to convince vendors that they have secured official projects before demanding advanc...
KUALA LUMPUR: The Malaysia External Trade Development Corp (Matrade) has issued a warning to businesses regarding fraudulent procurement schemes. Scammers are impersonating Matrade officials to obtain sensitive company documents and demand upfront payments. These fraudulent schemes involve contacting vendors via email and WhatsApp, posing as urgent requests for services related to overseas trade delegations, international exhibitions, and corporate recreational events.
Businesses are asked to submit various documents, including company profiles, registration certificates, bank statements, and Finance Ministry certificates. These documents are then used to create fake letters of award and government purchase orders. Several companies have already fallen victim to this scheme, suffering financial losses as a result of making upfront payments to supposed sub-vendors.
The scammers instruct awarded vendors to immediately purchase merchandise gift supplies from appointed sub-vendors, which are fraudulent shell accounts operated directly by the syndicate. Matrade has taken the matter seriously, filing police reports and reports with CyberSecurity Malaysia and the Malaysian Communications and Multimedia Commission to aid digital forensic investigations and enforcement actions.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Matrade warns of fake procurement scams nst.com.my
