E-Mail Frauds Targeting Exporters


According to the Federation of Indian Export Organisations (FIEO),cybercrime involving overseas gangs is turning into a fast-growing menace  for small exporters who have seen a five fold jump in fraudulent transactions in their accounts over the past three years or so. Cyber frauds have increased 25-30% in the past one year alone.About 100 such cases occur every month.To make things worse,small-time exporters and start-up companies who fall prey to these gangs do not report the incident because the exporters are too busy managing their main business and prefer to avoid litigation while preventing their clients from knowing any such thing that may demonstrate inefficiency.

International fraudsters, which run syndicates across the world, normally follow two ways to swindle exporters using electronic methods of funds transfer: Read more of this post



After 25 years, India has recently made it to the Big Mac Index.The Big Mac Index is a “lighthearted” guide published by’ The Economist’ to compare the currencies of different countries. It does so by looking at the price of a Big Mac burger, which is available in more than 100 countries with an identical recipe. Thus, a Big Mac in the U.S. costs $4.07 whereas in China it costs $2.27, using nominal exchange rates. From this, the index suggests that the Chinese yuan is 44% undervalued versus the U.S. dollar, otherwise the price of a Big Mac would be the same. Read more of this post

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