GESALO warning: Beware of scam

12/07/2017

Caution: Currently there are scams regarded to a specific project.

In the recent past a financial scam has been appearing in heightened frequency. An email scam’s general nature: Usually it is some sort of investment offer, always including a pay first then service procedure. It often involves special circumstances (e.g. family grievances) that explain the favorable conditions of the offer. The offer and the offering party are fabricated and paid money is generally very difficult to retrieve. First signs: imprecise content in regard to the addressed company, sketchy email addresses and spelling mistakes/translation deficiencies.


The investment fee scam

The investment fee scam is a little more elaborate. The imposters pretend to be licensed procurement agents of a government body or representatives of a registered company, and claim that in order to proceed with the planned investment, fees for registrations or other seemingly official use have to be paid. There is nearly always a tight schedule involved. The contacted companies are usually in the middle or at the beginning of a commercial engagement in the Gulf region. The addressed companies are carefully researched and so the fee charges seem legitimate at first glance. However, the licenses and registrations are faked.

Currently, architects from Germany are contacted by mail that they have won a major contract for a project. Before an invitation to Saudi Arabia, only a registration fee of 3000 USD would have to be paid. We strongly advise all affected parties of the payment and advise you to block and ignore further e-mails from the sender.

If in doubt – we offer assistance in ascertaining the validity of any suspicious propositions.