Another case of suspected fraud in exporting cashew nuts to the Dubai market has appeared.

The information clearly stated that the Vietnam Cashew Association (VINACAS) received a petition from Tin Mai Company - a VINACAS member about a suspected case of fraud in cashew nut export.

Specifically, Tin Mai Company signed a contract to sell cashew nuts to BAB AL REHAB FOODSTUFF TRADING LLC OFFICE NO 1006. MAI TOWER, AL NAHDA, DUBAI, UAE Tel +971 43868859, +971586001304; Email: info@barft.com. Direct transaction person: Mr. Naeem Chaudhry, Mob/Whatsapp: +971 58 600 1304, email: naeem@barft.com.

Another suspected case of fraud in cashew nut export to Dubai market

The customer has paid 15% in advance. The company has delivered the goods and on June 24, 2023, they arrived at Jebel Ali port, UAE. The goods were picked up and returned in empty containers on June 27, 2023, while Tin Mai Company has not yet been paid 85% of the value of the shipment.

Although, Sacombank sent 2 telegrams (Swift) to the buyer bank AJMAN BANK PJSC - Sheikh Zayed Road Dubai Branch requesting payment and return of the set of documents but it was not done.

Through inspection, it was found that the set of documents of the shipment was delivered by DHL to a security officer of AJMAN BANK PJSC - Sheikh Zayed Road Dubai Branch, but it is unknown where the set of documents went afterwards.

The shipping company said they will deliver the goods when they have all the required documents.

"According to Tin Mai Company and Vietnam Pepper Association, in addition to Tin Mai Company, there are at least two other businesses in the pepper and spice industry facing a similar situation with the same customer and the above mentioned Bank," VINACAS added .

Realizing that the incident had signs of fraud by the customer or the buyer's bank, in order to support the related businesses, in addition to immediately contacting the Vietnam Trade Office in the UAE for support, Mr. Tran Huu Hau - Deputy General Secretary of VINACAS - said that the leaders of VINACAS will coordinate with the leaders of the Vietnam Pepper Association to organize a meeting with the businesses to fully grasp the information, from which they will officially recommend the competent authorities of Vietnam and the UAE to consider and support the businesses to resolve the case.

If VINACAS members or cashew businesses are facing similar issues, please contact the VINACAS Office for information.

Also this afternoon, July 17, the Vietnam Pepper Association sent a dispatch to businesses in the Association and issued warnings when trading in the Dubai-UAE market.

The document stated that, according to warnings shared by some agricultural export enterprises with the Association, since June 2023, some Vietnamese enterprises have encountered difficulties in payment when signing contracts to export agricultural products such as pepper, cinnamon, cashew nuts, etc. to Dubai.

Specifically, the companies' reports said that the transactions appeared to show signs of fraud from the same buyer (Bab Al Rehab Foodstuff Trading LLC) and the same bank (Ajman Bank PJSC) in Dubai, United Arab Emirates, leading to the loss of the companies' shipments at Jebel Ali port, UAE.

Fraudulent transactions occurred right at the buyer's bank where these businesses sent the collection documents, involving the bank's personnel and transaction operations, showing signs of fraudulent cooperation between the bank and the buyer.

Therefore, the buyer had access to the original documents of the shipment without payment, and at the same time cut off contact with the above mentioned businesses. This loss has the role and joint responsibility of Ajman Bank PJSC with the buyer to organize and conspire to carry out fraudulent transactions of shipments of Vietnamese businesses.

In this regard, the Vietnam Pepper Association recommends that businesses be extremely cautious when dealing with Dubai customers. In case any problems arise, please share and update with the Association.

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