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Commercial Advisory

Posted on: February 20, 2019 | Back | Print

Embassy of India
Budapest

Commercial Advisory

It has been brought to the knowledge of the Embassy that certain fraudulent websites are operating in Hungary enticing gullible Indiancompanies to do business on attractive terms. Following are names of some such websites:

The modus operandi of these websitesis the following: These sites typically use the credentials of existing companies masquerading as the real firms, offering a wide range of products with generic pictures of items taken from the internet i.ealuminum, scrap metal, paper, pallets, etc. on attractive terms. Once contacted, they ask for 50% advance against shipment, and once the order is made the fraudsters refuse to honour the contract and will not be contactable.

Embassy has strongly taken up the matter with Hungarian authorities for the closure of these websites and investigations are underway.

All Indian companies are advised to exercise due caution while dealing with the above websites or any new websites which may come up due to change in nomenclature of the above websites, and contact the Mission for assistance and prior due diligence.

[Copy to: All Chambers of Commerce and Industries in India]