Are you planning to purchase electronics from Iconestop located in Kowloon Hong Kong? If so, be careful of possible scams. If you are possibly doing business with this company you may consider to do some further research first to avoid fraud. Read below one of buyer’s experience when dealing with this company in Hong Kong.
Iconestop
Buyer’s Nationality:
Belgium
Seller:
Iconestop
Seller Website:
iconestop.com | components-centre.com
Seller Address:
Room 2518A, 25 / F,Hollywood Plaza 610 Nathan Road, Mongkok, Kowloon, Hong Kong, Hong Kong
Initial contact with the supplier:
Search Engine
Type of product(s) being purchased:
Electronics
Value of the Purchase Order when the incident occurred:
1,001 to 3,000 USD
Destination market of order in question:
Western Europe
Type of Complaint(s):
scams & other unethical activities
Stage of relationship with the supplier at the time of the incident:
Initial Order
User Experience:
Asked for offer, suggesting LoC terms. Only full front payment accepted. Price and stock numbers clearly impossible. No forms of guarantee supplied. Bank account data not on name of the company that offers materials. When requesting a smaller supply, same identical mail appears from different company name. Web site shows large numbers of offered goods of all types of items, also rare ones that are not commonly used. Prices are around 30% of well established competitors in the market. Contacts are highly informal, and mainly request payments. Data on website concerning items are identical to main suppliers, complete with spelling errors.
Website refers to many years experience, but other than the main portal there is no reference at all on the internet (except reports on supplierblacklist). Company names change, corporate structure not findable. No mention of who is owner, director etc. Person names (e.g. in mail exchange) used are so common that they cannot be traced ever.
User Recommendations:
Check out that improbable offers are indeed legitimate. Be warned when the first true action is your payment, with no way to ensure any shipment will occur, no matter how good it sounds.
Check names, corporate reports and data, investor data, commercial ties etc. Get references from the company, preferably NOT from the company itself, as those are easy to assemble. Reduce first order to size that if lost, it does not harm your business at all. Ask for samples.
Next Steps, Take Action
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Submit this company to Supplier Blacklist with your experience.
If this company has caused you problems you learn more about loss recovery here.
You an also learn more about loss prevention here.