How do you vet foreign buyers?
A big order offer arrived; it looks too good. Rushed delivery, unusual payment requests, constantly changing contact details. In foreign trade, fake buyers and fraud attempts are a real risk. 🔍
Verifying a foreign buyer is the cheapest insurance before the first order.
Short answer: check every new buyer for company existence, contact consistency, trade history and payment behaviour. With warning signs, raise payment security or decline. 🛡️
Note: foreign trade regulations, procedures and support schemes change; get current information from your customs broker, your bank and the Ministry of Trade.
Four areas to check
BU BÖLÜMÜN ÖZETİ
- Company existence
- Contact consistency
- Trade history
- Payment behaviour
Knowing the buyer. 🔎
Company existence
Official registration, address, website, trading history. 🏢
Contact consistency
Corporate email, landline, the same person and signature. 📧
Trade history
References, sector presence, past import records. 📊
Payment behaviour
Is the payment request reasonable? See the payment guide. 💳
Four warning signs
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- Excessive urgency
- Free email and changing details
- Unusual payments
- Vague delivery address
They should stand out. 🚩
Excessive urgency
“Ship now” pressure and acceptance without negotiation. ⏰
Free email and changing details
Non-corporate addresses, frequently changing bank details. 📧
Unusual payments
Asking you for fees first, or payments to third parties. 💸
Vague delivery address
Delivery and company addresses that don’t match. 📍
Verification tools
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- Commercial attachés
- Business intelligence reports
- Your bank
- Video calls
Four sources. 🧰
Commercial attachés
Official missions abroad can give information on firms. 🏛️
Business intelligence reports
Company and payment history reports. 📑
Your bank
Confirmation through letters of credit and the buyer’s bank. 🏦
Video calls
Seeing the person and office; simple but effective. 🎥
Moving forward safely
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- A small first order
- Secured payment
- Confirm bank details
- Records
Four principles. 🪜
A small first order
The first deal starts small and secured. 📦
Secured payment
Advance or letter of credit for new buyers. 🛡️
Confirm bank details
Changed payment details verified by phone on a known number. 📞
Records
Checks and outcomes in the buyer record. 📇
Four common mistakes
BU BÖLÜMÜN ÖZETİ
- Getting carried away by a big order
- Trusting bank changes by email
- Sending samples unchecked
- Relying on one sign
All four lead to losses. 🚧
Getting carried away by a big order
Excitement skips checks. 🤩
Trusting bank changes by email
Payment redirection via fake emails is a common fraud. 🎣
Sending samples unchecked
Valuable samples go to unverified addresses. 📦
Relying on one sign
A nice website alone isn’t proof. 🌐
What should I do today?
BU BÖLÜMÜN ÖZETİ
- Step 1: a checklist
- Step 2: check pending prospects
- Step 3: a bank-details rule
- If you want help
Three steps, one hour. 🪜
Step 1: a checklist
Four areas and four warning signs; one page. 📋
Step 2: check pending prospects
New buyers in talks; run them through the list. 🔍
Step 3: a bank-details rule
Payment detail changes verified only by phone; tell the team. 📞
If you want help
Let us set up your buyer vetting together: use the consult your expert form. For your current setup see the digital audit; the bigger picture sits on the foreign trade consultancy page. 🎯
Related reading from the archive: data not to collect · approval workflows.
📝 Notes From the Field
An exporter received a “our bank account has changed” message from a long-standing buyer’s email address; the message was fake. The team already had a rule that payment detail changes are verified by phone on a known number. The phone call exposed the fraud attempt and payment went to the correct account.
📖 Short Glossary
Business intelligence: information on a firm’s financial and trading history. Payment redirection fraud: a fake email attempt to divert payment to another account. Commercial attaché: an official trade representative abroad. Corporate email: an address on the company’s own domain.
⚡ Quick Summary
Verifying foreign buyers is the cheapest insurance. 🔍 Check company existence, contact consistency, trade history and payment behaviour. Urgency, changing details, unusual payments and vague addresses are warning signs. Commercial attachés, intelligence reports, your bank and video calls verify. Always confirm bank detail changes by phone.
🎯 Next Step
Let us set up your buyer vetting: use the consult your expert form. Digital sales sit in the e-export guide; for your setup see the digital audit.
Frequently Asked Questions
Sık Sorulan Sorular
Commercial attachés in the target country and business intelligence services are starting points. Your bank also confirms during letter-of-credit processes.
Inform your bank immediately, keep all correspondence and apply to the relevant authorities. See a lawyer for legal steps.
Recommended for large and credit deals. For small, prepaid deals, basic checks are usually enough.