Too Good to Be True SCAM (Alibaba RFQ)? I am trying to figure out the scam here
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Alright - so I am constantly on Alibaba sourcing equipment and parts for my business. And I put in a Request for Quote (RFQ) on Alibaba and received emails from people claiming to have products available for 75% off the current retail price.
So I asked a lot of questions over email and they all came back following along the same lines of "This is too good to be true"
Then I received this email:
"Its 100% brand new product. Yes full payment with paypal + 5% fees. Please note it takes around 12-14 days for the funds to reach our bank account from paypal. So lead time is approximately 20 days from receipt of payment."
So I am guessing the SCAM is that:
1) These people will use PayPal to process the transaction
2) Wait till the money hits their bank account
3) Then ship a product (or dont ship the product)
4) I file a complaint with PayPal to get my funds returned
5) PayPal investigates (finds that I was duped - and returns my funds)
6) Since the crook waited for the funds to hit their bank account (they are long gone - and PayPal is out whatever the purchase price is)
Can anyone please comment and let me know your thoughts?
If yall can verify then I am going to report these individuals to Alibaba (as well as the other 5 individuals who have emailed me with similar offers)
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