Showing posts with label Company verification. Show all posts
Showing posts with label Company verification. Show all posts
September 13, 2013
Top 5 International Investment Tips from a Private Investigator



Reliable and accurate information plays a key role in investments. Without, you're flying blind and there's no way to accurately measure the risk and the potential reward.  When investing overseas, company executives, small business owners and individuals try to obtain as much information as possible.  You review the market trends, you spend hours reading expert opinions, and to the best of your ability, you do your own due diligence.  Whether you're looking at the European economy, or what´s going on in China or India, sometimes it's hard to know the real story.  After all, how do you know the reports you're reading are accurate.  Does the factory or office actually exist?  Does the company actually have the revenues they're reporting?  Is the person you're communicating with really the CEO, and are they truly offering you the investment opportunity?

Do you really know who are you're dealing with? Could this be an investment scam?

Investing is a situation where looking back is a good thing.  Past performance can provide clues into the company's reputation, performance and track record, and how the company might perform in the future.  A reputable private investigator or professional investigation company can help you uncover these hard to find details, and give you the insight you need to make an informed decision.  In short, the right investigator can verify the information and minimize your risk.

These are some of the scenarios where a background check investigation, international due diligence, or company verification can help prevent you from being a victim.

1. Don't invest or do business with a false website. Fake websites are one of the easiest ways to steal your money, and have been on the rise in recent years. Scammers don´t even need to make an effort on creating a believable story. They will just take the existing information of a real company and build a phony and similar website. It is sometimes hard to tell apart a real website from a fake one. In some cases, the website can even appear identical, but have different domain name and be hosted from a different country.  Internet criminals are getting creative, so verify the website you're dealing with is legit. 

2. Don't buy shares in a fake company on a foreign exchange. It could be property, buying commodities at great prices or more commonly, on a foreign the stock market. The problem is that you may not know anyone in China, Malaysia or India, for example, who speaks the language who you can trust to verify the story.  You need a professional who not only lives and works where the company is located, but you need a professional investigator who is trained to verify that there is an actual company and revenues behind a ticket symbol.  China is gaining worldwide attention for its fictitious companies listed on exchanges.  Many victims think it couldn't happen to them, but investing in a false company is not as rare as it used to be, and being listed on the NYSE no longer means it's safe and verified. 

3. Don't hope documents and filings are true and valid; verify the facts.  You might have even checked with the SEC or business registration office in the foreign country where the company is filed and has its  claimed office.  But, do you know how easy it is to register a company?  Did you know that in most criminal operations involving fake companies and websites, the company is a registered and "legal" business?  Crooks know that many people only check business registration and fail to do real company verification.  They in turn usually file a registration to make victims believe they are real entities. A reputable investigation company can verify the business behind the paper filings. 

4. If a sales pitch sounds too good to be true, it probably is.  Relationships and investment do not always get along.   Especially when your interaction with your so called friend has been online only! You might “know” this person for a long time, or even have been recommended or referred to this person through a trusted contact on Linkedin, or maybe were introduced in person.  The truth is, these days, it pays to be skeptical and most professionals understand that due diligence is just part of business and nothing person.  Let your contact know you'll be reviewing the information and proposal, and will be in touch after you've had time to think things over.  Then, consult a professional regarding your options for background check investigation, company verification or due diligence. 

5. Watch out for red flags, and protect your wallet and private data.  What may seem safe to you, may seem like an obvious case of fraud to the eyes of a trained professional investigator.  Hiring a private investigator can help you protect your private information and add a barrier of protection between you and your potential investment.  Investigators are trained at uncovering risk factors previously unknown to you, and can verify reputation, offices, facilities, ownership, history of litigation or fraud, revenue, operations and more. Never send a dime or personal data to any unknown business or company until you're sure you know who you're dealing with.  Be safe, verify and then decide.

Let clear evidence and verified information be your key to profitable investing!


About the Guest Author: Maria Taylor is an Investigation Analyst for Wymoo® International, a professional private investigation firm based in Florida, specializing in international background checks, private investigation and due diligence. Visit the company website at Wymoo.com



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August 23, 2013
Company Verifications Shed Light on China Investments

  • 8/23/2013
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Many people around the world have gone wild about riding the Chinese economic boom and stock market. There is an important reason for that. China is the fastest growing economy in the world, expected to surpass the United States´ economy over the next few years. Chinese manufacturing industry already exceeded the U.S. and became the largest in the world in 2010. Even though there has been a slow down on the economy’s growth in the past 2 years, experts say this indicates it is a solid healthy economy that is just cleaning up the financial system, not a bubble like some skeptics have forecasted. The small actions taken by the government are targeted to achieve a more sustainable growth, and there are simply too many Chinese to fail. With so many mouths to feed, and so many people with purchasing power, China will grow. For those looking to do business in China, verifying companies is now big business to avoid fraud.

Although China is still a communist country, its free market policies have encouraged a large amount of foreign investment. The odds are that Chinese companies will continue to do very well. With no fears of a "hard landing" for China's economy, the outlook seems perfectly fit for investing. However, the investors’ concerns should be less focused on the economy and more focused on the Chinese companies themselves. The economic boom has also brought into the picture a lot of fraudsters. China background checks and China due diligence is helping those who want to get into China's markets, do so safely and with lower fraud risk.

People have lost their money to “Coal companies” that didn´t even own a coal mine, to oil companies that didn´t deliver any oil, and so on. Recently, an investigation on Chinese investment scams showed that 70 companies that had been listed in the U.S. stock market were taken out because they were inexistent or fraudulent. Fake companies, one after the other, have managed to get listed on Nasdaq and the New York Stock Exchange. So if the stock market gets fooled, how do you avoid being a victim yourself? A company verification will provide you with reliable information not only about the ownership and the legal registration, but also about the operations of this business and the reputation it holds in other countries, including China.

Investment scams have duped retail investors when they try to buy electronics and commodities at prices so low that they become irresistible. Before investing in a Chinese company, be sure to find out how it operates and whether it is likely that its corporate executives will act in the best interest of its shareholders. Before buying any goods you would also need a screening of the seller. A professional investigator can help you verify the legal registration, ownership, legal filings, reputation and operations, and to screen the case for fraud before investing!

S. Birch
© 2013 S. Birch

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August 6, 2013
Malaysia Investigators See Rise in Fake Company Websites















Malaysia has become in the last few years a high fraud risk nation. Although not every business or personal relationship from Malaysia will be fraudulent, it is better to be skeptical when it comes to certain transactions.  A significant number of reported crime cases involving fake company websites in Malaysia has sent local law enforcement scrambling to try to prevent the problem.

According to the U.S. Embassy in this country, there is an increasing number of Americans that are victims of Malaysia scams. Most of these victims have been tricked into giving financial aid to people who claim to be American citizens in a medical, legal or financial emergency. Even people who have purchased their goods or services in this country carry a higher risk of fraud or financial crime.  With business and personal relationships in Malaysia, it's more important than ever to verify the person, the company and website are real and legitimate businesses.

Since 2012, the number of fraudulent websites and servers that have been used to install malware worldwide has tripled. This malware is intended to acquire your usernames, passwords and banking details in order to access your accounts. More than 50 per cent of the cases filed in 2013 were fake copies of the websites of banks and other credit and financial organizations.  But, in addition to those designed to steal your passwords, there are a growing number of sites that are part of online scam or fraud, posing as a reputable company to scam internet users.  Their goal is to gain your trust, and get you to do business with them.  Once they receive your payment or investment, these internet criminals move on to the next victim.  Prevention is key.
Malaysia private investigators agree that the challenge to identity all of these fake websites engaged in fraud is no easy task.  Expert investigators in Kuala Lumpur can help by conducting a background check or due diligence investigation on the company and website.  

One of the main challenges companies are facing today is the fact that many of their dealings have to do with an online transaction. This does not mean that you can´t do business online, it just means that you would have to be careful.  International investigators recommend for individuals and companies to always verify the legitimacy of the parties involved in order to make informed decisions. A company verification should be done whenever you are starting a new business or business relationship.  Ignoring the risk can be a costly mistake and learning lesson.

S. Birch
© 2013 S. Birch

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May 10, 2013
How to Verify a Company and Avoid Fraud














Business fraud has been increasing for the past five years since the big crisis of 2008 left a lot of people unemployed and broke. Small and large business and even individuals have had to look beyond their hometown and even their home countries to find jobs, business opportunities and attractive investments.  As individuals and companies look beyond borders for profits and ways to grow their business and increase their income, many are making deals with individuals and companies they’ve never met and never even heard of before.  Whether it’s a supplier in India, a manufacturer in Ghana, or a call center in the Philippines or Malaysia, or an investment in China, verification services are becoming extremely important to avoid fraud.

American investors and companies find it hard to determine if the companies in foreign countries are really who they claim to be, if they have been in business for as long as they claim, and if they are reliable and reputable.  Verifying companies and individuals in your own country can be difficult.  When it comes to subjects in other countries and other continents, where there is a different language and different culture, verifying a company and screening for fraud is not easy.

Making matters even more risky is the fact that many international business deals and investments start via the internet.  These relationships and communications are highly susceptible to fraud and manipulation.  Due to the increasing risk, it’s essential to verify and minimize your risk. Many clients are now relying on a professional international private investigator to verify all known data, check for filings and registration, investigate reputation and operations, and screen for fraud.

International investigators and law enforcement officials say business fraud and investment scams take hundreds of millions of dollars from victims every year in countries like the U.S., Canada, the U.K. and Australia.  In most cases, the victims failed to do their due diligence and decided to go it alone, hoping the deal would go through and choosing not to hire a professional.

Company verification services and investigation overseas is really hard to do if you are not a professional investigator or a experienced verification company. If you do not have access to government records and local information, with a team on the ground in the country where you need them, speaking the local language and verifying local facilities, offices, etc, it is nearly impossible.  International investigators not only have the personnel and the resources where you need them, but they also have the highly trained professional investigators who can properly verify a foreign company or individual, to protect you from fraud and financial loss.

All the best,

S. Birch

© 2013 S. Birch

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April 10, 2013
Company Verification a Growing Tool to Avoid Fraud














Companies around the world lose millions of dollars each year as victims of internet fraud are growing in nearly every country where statistics are kept.  It is a growing problem and governments and law enforcement agencies seem unprepared and under budget to deal with the threat.  In many cases, police face jurisdictional problems as many criminals operate from other countries.

For CEOs and small business owners eager to succeed in today’s global market, it pays to go abroad.  Finding deals internationally can be quite lucrative, although it does carry higher risk.  It is very hard or impossible to notice the difference between a real company and a fake one, as internet scammers develop professional looking websites that can fool even the most skeptical business people. Even more, false companies are often even registered, so everything seems to check out for the average person attempting to do their due diligence. Company verification service is for those seeking to minimize their risk, and know for certain a company and deal is real.

In the past years, small American businesses, have been seriously threatened with business scams and many of them have gone bankrupt. Internet business fraud is a serious threat.  Doing business with a fraudulent supplier or business partner in China or India or elsewhere can lead to disaster and serious financial losses.  It’s essential to verify unknown companies and even new contacts from established companies.  In some cases, the company may be real and reputable, but the contact person is in no way employed or representing the company or firm.

Besides verifying websites and international businesses with the Better Business Bureau or their local chamber of commerce agency, a company verification investigation is a different level of verification for those serious about due diligence and minimizing risk.  The truth is, company verification is due diligence that should be part of the check list before engaging in a relationship with a foreign country.  This investigation should be conducted by professional investigators that have experience with due diligence and have operations in the country where you’re investing or starting your international operations with a new supplier or business partner.

For seasoned investigators with the proper tools, training and resources, it’s easy to determine if a company is legitimate, fake or involved in fraud, and the verification results should help you avoid the potential pitfalls.  Most international investigators recommend businesses looking to invest or expand in the international markets not to procrastinate and verify first, then decide.  

All the best,

S. Birch 
© 2013 S. Birch
 

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