Matrade warns of fake procurement scams

KUALA LUMPUR: 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 information and demand upfront payments. The scammers are reaching out to vendors through email and WhatsApp, posing as representatives of overseas trade delegations, international exhibitions, and corporate recreational events.

These scams involve requesting various documents, such as company profiles, registration certificates, bank statements, and Finance Ministry certificates. Once the documents are provided, the scammers use them to create fake letters of award and government purchase orders.

Several companies have already fallen victim to this scam, resulting in financial losses after making initial payments to supposed sub-vendors. The scammers instruct the awarded vendors to immediately purchase merchandise gift supplies from appointed sub-vendors to meet contract specifications before the government disburses funds.

These sub-vendors are fraudulent shell accounts controlled by the syndicate themselves, according to Matrade. The organization has taken the matter seriously and has reported the incidents to CyberSecurity Malaysia and the Malaysian Communications and Multimedia Commission to aid digital forensic investigations and enforcement actions.