Wiring Money to Your Chinese Supplier Disaster

29 Aug

One of our current suppliers just had a situation that is worth sharing with anyone doing business off shore.

Man Scratching Head

Some time in the past someone at the suppliers company received an email with an attachment that they opened which turned out to be a hacker and the program gave the hacker access to the companies emails.  The hacker then sat back and monitored emails coming and going from the supplier’s company.   A Canadian company was working with the supplier on a big order of a custom product.  Finally after some time the order was placed and the down payment was made to the Chinese supplier’s bank and production was initiated.  All this was being monitored by the hacker.

When the order was completed and the shipment arranged it was time for the final payment to be made and the supplier sent the final payment information to the Customer.  Actually the hacker intercepted that email and replaced it with their own giving different bank information.  The Customer noticed the change and emailed back asking just to confirm it.  The hacker intercepted that email and responded that they had changed banks.  The Customer then sent the final payment to the new account and of course the money soon disappeared.  After a few weeks went by the supplier contacted the Customer and asked about the payment and the fraud was discovered.  The Canadian police where contacted who said the hacking was on the Chinese side and the Chinese police said it might have been on either side.

Currently the shipment is on the ocean.  The Canadian Customer feels they paid for the merchandise and because of the supplier’s lack of email security they are of no fault in the matter and should receive their order.  The supplier feels that they have not been paid and thus are not willing to release the BOL to the Customer at this time.

What would you do?


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