Copper Wire Scrap Scam in Africa

We will be looking at Copper Wire Scrap Scam in Africa and how you can avoid it. Africa has an abundant supply of copper wire scrap which is why many buy from the continent. The surplus copper wire scrap is because there’s no recycling facility in the continent. Once the scrap is gathered, it is simply shipped overseas. Copper wire scrap is a very big and profitable business in Africa and South Africa leads the export. The surge in the price of copper wire scrap has given rise to a new breed of criminals in South Africa. These criminals are stripping the country bare. They steal copper from electric cables, house wirings and even from home appliances.

Copper Wire Scrap Scam in Africa

While some are stealing copper wire, others are scamming people online. More than 90% of copper wire scrap scams are carried out by Africans. These fraudsters are particularly from the following countries; Kenya, Zambia, Cameroon, South Africa and Nigeria.

They also have accounts on Alibaba registered in the USA, Germany, Canada, France and other countries. Buying Copper wire scrap has become very difficult as there’s always a 90% chance you will fall to scammers. We created this platform to make sure people buy copper wire scrap without getting scammed.

How the scammers operate

It is very easy to identify a scammer if you are diligent enough. They are always very impatient and want things to be done as soon as possible. Their prices too are always lower than the spot market price. You should not be fooled by cheap prices for that is how you lose money.

When you send the scammers your Letter of Intent, they will reply with a Full Corporate offer telling you of the quantity they can supply but most importantly the payment terms. Scammers always request you make an upfront payment. This advance payment they claim is needed to pay taxes and royalties. If the quantity you want to order is very huge, some will ask you for as low as 2%. This is because if you send anything more than that the money will be refunded by their bank.

If you make the mistake of sending them the 2%, some will simply stop replying to your messages. Others will send you a fake Bill of Lading and then ask for more money for insurance.

How to avoid the Copper wire scrap scam

If you are on this platform then you are already one step ahead of the scammers. These criminals have set up registered companies in their countries hence it is very difficult to catch them from just documents. What most buyers do is request to pay through Letter of Credit. This is a good way to go but the truth is most legit companies won’t accept LC. Copper Wire Scrap has a lot of buyers hence the suppliers won’t tie their goods to a Letter of Credit when they have another company looking to buy directly.

When you make contact with someone claiming to sell Copper wire scrap, do not pay any money online. By this we mean do not make any payment without actually seeing the product. The copper business involves a lot of money hence you must be ready to travel to the suppliers warehouse, see the stock before signing the contract and making payment. This is the only sure way of buying Copper wire scrap without getting scammed.

Our company is in Africa therefore if you are looking to buy copper wire scrap and need someone to do verifications do not hesitate to contact us. We will go to the company, inspect the stock and tell you if it is okay for you to travel or not. Never make payment without visiting the suppliers warehouse.

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