By Kim Hyun-cheol
Staff Reporter
A state-run trade agency warned of a new type of scam targeting traders that involves fraudulent projects in West Africa, Tuesday.
The swindlers attempt to trick victims into thinking they might be singled out to participate in a lucrative opportunity, and into sending advance sums of money to them in hopes of realizing larger gains, the Korea Trade-Investment Promotion Agency (KOTRA) said in a report.
Recent cases have seen a growing number of local companies receiving such questionable bid offers from self-claimed buyers in Africa, according to the report.
A provincial manufacturing company recently received an invitation from a Nigerian buyer through a trading Web site to join an international bid for the Economic Community of West African States (ECOWAS). One week later, the buyer notified the company that it had won the contract and requested $3,500 in legal consultancy fees.
A review by the Korea Business Center (KBC) branch in the Nigerian capital, Lagos, however, found that no such bid existed.
In another case, another group of scammers attempted to swindle a local heavy equipment maker, pretending to be connected to the Niger Delta Development Commission (NDDC), a Nigerian government agency. They introduced a false project to the company, suggesting it make a joint bid.
Companies should be cautious when receiving such offers, especially when the bidding period is suspiciously short or conditions of the bid are overly favorable, KOTRA said.
All ECOWAS-related bidding information is made public through its Web site, so an online review is necessary for all proposals involving the regional organization, it added.
``The most important thing is not to be taken in by these sugarcoated offers,'' a KOTRA spokesman said. ``When needed, companies can freely ask for local market research or double check information through the Lagos KBC.''