We have had several enquiries from the Middle East that at first seem to be from genuine bonafide organisations. The enquiry is plausible, and has a level of technical knowledge beyond that of the average fraudster telling you about a bogus lottery win, or secret Iraqi gold bullion. They seem to be targeting laser and optical suppliers just now, several customers have had the same experience too.
Annoyingly it takes some time to respond to the enquiry, offer a quotation, and process an order; only to find out it is an “overpayment scam” You will be told that instead of the say 5,000 Pounds you were expecting in payment for goods, a far larger amount like 52,000 Pounds has been transferred by mistake, along with some pleas like……
“We appreciate your understanding, the error on payment was caused in accordance of total orders the client placed with our company while some were purchased from other companies, the client advised that we should proceed with the order regardless of the mismatch in the amount transfered, any charges incurred should be deducted from the payment so we don’t have a delay in receipt of the ordered product, then we supply you with the account details for the refunds after which the shipment will then be completed…..
If you don’t know how this then goes on to con you, the Royal Bank of Scotland has a short explanation on their web site.