Three cashew, pepper and cinnamon exporters suspect a Dubai customer

According to Mr Tran Huu Hau, Deputy General Secretary of the Vietnam Cashew Association (VINACAS), This association has just received a petition from Tin Mai Company (VINACAS member) about suspected fraud in cashew kernel export.

Specifically, Tin Mai Company signed a contract to sell cashew kernels to Bab Al Rehab Foodstuff Trading LLC based in Dubai (United Arab Emirates - UAE). The customer has advanced 15% of the shipment value and Tin Mai Company has delivered the goods.

On June 24, 2023, this consignment arrived at Jebel Ali Port, UAE. After that, the goods were picked up and returned to the empty container on June 27, 2023, while Tin Mai Company has not yet been paid the remaining amount (85% of the shipment value).

Although Sacombank has sent 2 messages (Swift) to the buyer's bank AJMAN BANK PJSC - Sheikh Zayed Road Dubai Branch requesting payment and refund of the set of documents, the document was not fulfilled.

Through inspection, The document of the shipment was delivered by DHL to a security officer of AJMAN BANK PJSC - Sheikh Zayed Road Dubai Branch. The document's destinations that come after are unknown. According to information from the shipping company transporting the shipment, they deliver the goods when the person who comes to pick it up has all the documents as prescribed.

Also according to information from Tin Mai Company and Vietnam Pepper and Spices Association (VPSA), currently, there are at least 2 businesses in the pepper and spice industry having similar situations with the same customer and the aforementioned bank.

VPSA said that from June 2023, a number of Vietnamese businesses had difficulty in payment when signing contracts to export agricultural products such as pepper, cinnamon, and cashew to Dubai.

Specifically, information from companies said that the transaction appeared fraudulent behaviour from the same buyer (Bab Al Rehab Foodstuff Trading LLC). This also includes the same bank (Ajman Bank PJSC) in Dubai in the United Arab Emirates (UAE), resulting in the companies' shipments being lost at Jebel Ali Port, UAE.

The fraudulent transaction occurred at the buyer's bank where these businesses sent the collection documents, related to the bank's personnel and transactions. There are signs of fraudulent cooperation between the bank and the buyer. The buyer therefore had access to the original documents of the shipment without payment and cut-off contact with the businesses mentioned above.

This loss has the joint responsibility of Ajman Bank PJSC with the buyer to conspire and carry out fraudulent transactions of shipments of Vietnamese businesses.

Mr Tran Huu Hau said that he noticed that there were signs of fraud by the customer or the buyer's bank. In order to support related businesses, in addition to immediately contacting the Vietnam Trade Office in the UAE for support, VINACAS leaders will coordinate with VPSA leaders to organize meetings with businesses to fully grasp the information. He then will officially propose the competent authorities of Vietnam and the UAE consider and support businesses to solve the case.