TOGO FRAUD EXPOSED: Embassies Warn Indian Exporters and Suppliers Against Bogus Companies
A growing concern in the financial industry has emerged in Togo, where several fraudulent companies are posing as genuine businesses to defraud Indian exporters and suppliers.
Embassy Issues Stern Advisory
The Embassy of India in Lome, Togo, has issued a stern advisory against these deceptive practices, urging Indian firms to exercise extreme caution when dealing with companies claiming to be based in Togo. The advisory is a direct response to the increasing number of reports from Indian exporters and suppliers who have fallen victim to these fraudulent activities.
How the Fraud Works
According to sources, some unscrupulous companies have created fake email addresses and phone numbers, pretending to be reputable businesses. These bogus companies then send emails or make calls to unsuspecting Indian exporters and suppliers, requesting payments for goods or services that never existed. The Embassy of India has warned that these fraudulent activities are a significant threat to the financial security of Indian firms operating in Togo.
Suspected Companies
The Embassy has listed several companies suspected of engaging in these illegal activities:
- National Procurement Commission Togo (NPCTG)
- TRADE GLOBAL SARL
- Marketing Project Development Council (MPDC)
- Contract Awarding Committee (CAC)
- West African States Humanitarian and Development Commission (WASHDC)
- ECOWAS MINISTRY OF HEALTH & SAFETY TOGO
What You Can Do
The Embassy has urged Indian exporters and suppliers to exercise extreme caution when dealing with companies claiming to be based in Togo. The advisory emphasizes the importance of verifying a company’s genuineness before entering into any financial or contractual obligation.
To avoid falling victim to these fraudulent activities, the Embassy is urging all Indian firms to:
- Verify the authenticity of any company before making any transactions
- Contact the Embassy directly to confirm the legitimacy of any company
Industry Response
This development has sent shockwaves through the business community, with many calling for increased vigilance and cooperation between governments and businesses to combat this growing menace.
By staying informed and exercising extreme caution when dealing with companies in Togo, Indian exporters and suppliers can protect themselves from these fraudulent activities.