bulk suppliers of copper wire scrap copper wire scrap scams

Copper wire scam in Tanzania

Copper wire scam in Tanzania

Copper wire scam in Tanzania

A look into how copper wire scrap scam in Tanzania is destroying the market for legit suppliers. Tanzania is a country with a huge stockpile of copper wire scrap but the market has been plagued by scammers. We have received too many complaints from people who came into the country and where scammed while trying to buy copper wire scrap. If you search buy copper wire scrap in Tanzania on Google, you will see more than 200 different companies, Facebook and LinkedIn profiles. Do not be fooled for 98% of these companies are scammers.

We have been looking into these fake companies while reporting some to the police. Scammers have made the copper wire scrap business very difficult for real suppliers. Our mission is to put an end to their activities and ensure legal companies are able to conduct business.

Tanzania is one of the largest exporters of Copper wire scrap in Africa after South Africa. People prefer buying from Tanzania because most of what they sell is legal. In South Africa you are not sure of what you’re getting because most of what is in the market is stolen from government and private institutions.

How the copper wire scammers operate in Tanzania

The first thing they do is look for possible victims on either Facebook, LinkedIn and B2B marketplaces like Alibaba, Tradekey, Tradewheel and others. Once a possible victim makes contact, then they send you their offer. This offer will contain their terms and price which is usually very low compared to the general market price.

Price

We always talk about price because it is the main thing to identify a scammer. Every business person wants to make a profit hence will jump to any opportunity when it presents itself however you have to be careful because it is a trap set by scammers.

Last month we received a report from a Chinese businessman who was scammed trying to buy Copper wire scrap. After investigation and going through his file, we realized the scammer was selling at $2,200 per ton. At the time it sounded very profitable and he ended up losing more than $600,000 because of that decision. We were able to arrest the scammers and right now they are in the process of returning his money.

This Chinese buyer was lucky but there are others who were not so lucky. Our job has been to direct people to real sources of copper wire scrap and other scrap metals in Tanzania.

Join our forum today and report copper wire scrap scam in Tanzania to help others.

Payment Terms

The second thing to note is their terms of payment. Copper wire scrap is very expensive and the business involves a lot of money. Even though these scammers have registered businesses, once a certain of money gets into their bank account, it will be blocked and they will be required to provide proof of funds. To combat this, the scammers always ask for a small advance fee like 5% or 10% depending on the total amount. This is to ensure the money is not too big hence it goes straight into their bank account.

How we operate

We are not middlemen but will help you conduct business in Tanzania by taking you directly to real suppliers of copper wire scrap. Our aim is not to spoil your business deal but to ensure that the person you are talking to is legit. Most of the scammers are foreigners hence can easily be identified. They do not speak the local language which is Swahili.

If you are in contact with anyone in Tanzania claiming to sell copper wire scrap, simply send their phone number and registration documents to us. We will give them a call and in just two minutes, we will be able to determine if they are legit or not. All you have to do is tell them that you have a partner in Tanzania who will come to their office and they will stop replying to your calls or emails.

Note: The only way you can buy copper wire scrap in Tanzania is through us or vendors recommended by us. Contact us today if you need assistance buying copper wire scrap in Tanzania.

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