Bureau of International Recycling warns of fraudulent scrap deals

NEW YORK (Scrap Monster): The Bureau of International Recycling (BIR) has warned its members about fraudulent scrap transactions reported over the past several weeks. BIR stated that scrap metal recyclers have been offered non-existent cargoes of scrap metal.

The data from the ICC International Maritime Bureau have confirmed that documents accompanying certain lower-priced offers were not authentic. The offers in question have been made using the names of real traders and, when a buyer agreed to take a sample cargo, he was given a tracking number to monitor the goods which were allegedly transported by a well-known carrier.

BIR has urged its members to report any suspicious documents or fraudulent activity regarding scrap metal cargoes.