Dive summary:
- The Bureau of International Recycling is warning scrap metal recyclers about a scam where recyclers are offered and sometimes pay for non-existent scrap metal.
- Over the past few weeks scrap metal recyclers have reported offers of reduced price scrap metal replete with fake documents to confirm the quality of the metal.
- Used in multiple scams, the forged documents look the same, suggesting that a single group is responsible for the con or that the documents have been made widely available.
From the article:
"... The BIR warns that one strategy seemed to be the creation of a new website with a domain name similar to that of the genuine company, featuring contact details but with different telephone numbers. In the meantime the IMB found out that at least one of these numbers was used for multiple companies and that email communications allegedly sent from a UK-based company were actually generated in Nigeria.
IMB also pointed out that if a potential buyer would be sufficiently tempted by these offers and agree to take a sample cargo, he would be provided with a set of shipping documents and a link to an online cargo tracking site to monitor the progress of these cargoes, which were allegedly transported by a well-known carrier.
Once funds are handed over and the goods are not received there is little the recycler can do to recover the loss. Law enforcement will not get involved unless there is proof that a crime has taken place in their jurisdiction. Furthermore, many of the cases involve funds of less than $100,000, making them a low priority for police. ..."
