Matrade warns of fake procurement scams
KUALA LUMPUR: The Malaysia External Trade Development Corp (Matrade) has warned businesses against fraudulent procurement schemes involving scammers impersonating its officials to obtain sensitive company documents and demand upfront payments.
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.
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