"Don’t let sophisticated traps ruin your opportunity to grow!"
The UAE — one of the world’s busiest commercial hubs — is becoming an attractive destination but also fraught with risks, as numerous forms of fraud and commercial scams grow increasingly sophisticated. According to warnings from the Vietnam Trade Office in the UAE, as many as 44 fraudulent businesses have been identified in the country.
List of fraudulent companies in the UAE
Sophisticated fraudulent practices such as:
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Receiving goods and disappearing without payment after delivery
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Fraud via fake deposits — using “fake” websites to collect money and vanish
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Forging bank documents or Letters of Credit (L/C) to deceive Vietnamese businesses
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Email hacking, impersonating payment requests, altering account details to misappropriate funds
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Delays in receiving goods; perishable items “spoil” at the port and are then subjected to forced price reductions
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Tactics like issuing “guaranteed checks” or post-delivery payments followed by disappearance — causing significant financial losses for many Vietnamese enterprises
This is not just a potential risk — it is a call to action! Protect yourself proactively when entering the UAE market.
Recommended precautions:
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Thoroughly verify partner information using reliable sources (Vietnam Trade Office in the UAE, Embassy, reputable organizations, or trusted former partners).
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Choose safe payment methods, prioritizing irrevocable L/Cs with reputable banks. Avoid post-payment T/T or unregulated channels such as Western Union whenever possible.
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Carefully check the quality and delivery conditions, especially for agricultural and perishable food products. Always include clear terms regarding delivery responsibilities and deadlines to prevent forced price reductions due to delays at the port.
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Secure your company’s information; do not publicly share bank account details or transaction codes. Always reconfirm via official channels when there are any changes in payment requests or account information.
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Maintain comprehensive transaction records, including emails, contracts, invoices, bank documents, and communications. This ensures a clear legal basis should disputes arise or when seeking support from authorities.
Be cautious to protect — act professionally to grow — embrace sustainability for long-term success. Let’s move forward together with GEVA to help Vietnamese enterprises build safe and green export pathways.