Recently NOFOTA received reports of fraud in the UCO market. This fraud would allegedly be committed by companies selling UCO on the European market under the applicability of the NOFOTA Trading Rules, issuing fake documents including bills of lading, certificates or origin, analysis’, insurances, etc. and requesting a (very) substantial prepayment. After prepayment, the consignee would be changed, and delivery would not take place. As we understand from the market, many companies would have been affected (members of NOFOTA as well as non-members). We advise to pay close attention. In case you have been affected by a fraudulent sale, we advise to report it to the police. We will keep our members informed in case of further information.
NOFOTA is against any form of fraud and completely distances itself from it.
