Plain-language definitions of 133 terms used in raw material trade: Incoterms, payment, shipping, customs, quality documents, plastics, metals, chemicals, agriculture and energy.
A fraud in which an attacker breaks into the seller’s or buyer’s e-mail, or writes from a look-alike domain, and at payment time announces that “our bank account has changed”, diverting the money to their own account. It is one of the costliest frauds in international trade and the money is often unrecoverable. Defences: confirm any IBAN change by voice on a previously known phone number, tie account changes to two-step verification inside the platform, watch for look-alike domains and start large payments with a small test transfer.
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