Author: certificateverifier

It is important to follow the law to prevent crime and loss of money or reputation. Banks and other financial institutions that fail to perform their AML duties are fined millions of dollars. Fenergo reported that last year, the financial sector lost $5.4 billion due to non-compliance with AML and (Know Your Customer Verification) KYC norms.

Even though technical solutions are now in place to help compliance officers reduce the workload and the potential for human error, the large numbers reveal that many companies still struggle to maintain effective Know Your Business Verification (KYB) procedures. .

As we have now covered the fundamentals, let’s jump into the pros and cons of KYB and learn more about automated business verification solutions.

Major Benefits of Know Your Business Verification Process

Unlike KYC, Know Your Business Verification focuses on organizations rather than clients. The process ensures secure business relationships by preventing fraud and helping organizations stick to compliance rules. Some of the key aspects that explain the benefits behind KYB are:

• Ensures a secure business-to-business (B2B) relationship;
• Automated solutions remind compliance officers to stick to AML-related tasks that are automatically required. In this way, KYB helps to reduce human error;
• This guarantees compliance with the ever-changing regulations;
• Minimizes operating costs;
• Helps prevent fraud.
• Reduce or eliminate physical risk, competition risk, human risk, security risk, operational risk, reputational risk and fraud Risks.

How does KYB is helping businesses?

It is important to understand that fraud can happen with any company. Know your business Verification process eliminates risks by detecting various red flags during the company’s screening process, thereby preventing any other entities from engaging in shady criminal activity. Some of the most common signs of suspicious behaviour are if:

• The company doesn’t have proper credit records.
• The ownership structure is constantly changing
• Documents are not structured properly, they contain mistakes.
• The office address differs from the company’s shipping address.

KYB is necessary for Safer Business Relationships

This process protects the mutual interests of both parties when it is a matter of business relationships. By verifying company data, including the Politically Exposed Person (PEP) list or Ultimate Beneficial Owner (UBO), the process ensures that the other company is not involved in any fraud or criminal activity.

In addition to trust and confidence, it is necessary to review any company prior to signing a partnership agreement for security reasons. For example, potential business partners may not have control over their vendors.

How Can Certificate Verifiers Help?

With our business verification services, we can provide you with the required confidence to quickly and accurately validate business details, customers and vendors by giving access to critical validation data of a business in an understandable format.

We at Certificate Verifier provide business verification services in three different packages. That is Basic, Standard and Pro. You can readily choose any one of them as per your requirements and your desired details. So don’t just wait and see, protect your business with Certificate Verifier and its professional verification services.

Many people are contacting us through our website certificateverifiers.com to verify the authenticity of one company or another company they want to do business with. Most of them found these companies through online search. However, only 20-30% of these companies were found to be authentic. The rest

of them are online scams in Cameroon that want to rip them off for their hard-earned money.

In the last blog, we also revealed the few fraud timber companies in Cameroon, more will be revealed soon.  It has been observed that the number of scam companies has been continuously rising, and it promoted us to write a blog post to keep all of you well aware and informed so that you can avoid getting caught by online scams in Cameroon.

How to Verify the Authenticity of a Company in Cameroon?

There are several methods scammers are targeting businesses and major investors searching for opportunities online in Cameroon. One of the most common is using deceptive sales techniques to get this business out of your money.

Most of the foreigners and Cameroonians in the diaspora are not well aware of how business activities are conducted in Cameroon. Most of them don’t know where they can find reliable information. There are very few genuine websites like this where you can find the right information or direct you to find all the information you want.

Government websites may seem odd due to their outdated information but they will have all or major information to check the authenticity of the business. Most investors or foreign businesses usually ask these ‘presumed businesses’ about their company documents and business licenses. They are usually sent copies of counterfeit or expired business licenses.

How to Verify a Fake Business in Cameroon?

To avoid getting stuck into the scam of online scammers in Cameroon that use fake business documents, you need to know the following:

1. Ask for a Business license and check the validity period

A business license no longer has a validity date of 1 year. It is issued on a single sheet of paper along with the Tax Clearance Certificate and is valid for 3 months from the date of signature. If the taxpayer has benefited from a moratorium or a stay on execution, the validity may be for one month.

Businesses can also apply for a business license tax exemption in Cameroon for the first year of registration. In this case, the business becomes free from business license tax for 1 year or 2 years if it was registered with the Integrated Center for Small and Medium-sized Businesses.

2. Check Tax clearance certificate

A tax clearance certificate is issued after validation of compliance of taxpayers. This is to know whether or not the taxpayer has paid all his taxes and duties. This means that the taxpayer has no tax debt or any benefit from withholding or moratorium on execution.

To avoid falling into the trap of online scams in Cameroon, you need to ask a business to prove that their business is going on. One way to know this is that they provide you with a proper tax clearance certificate. However, we all know that scanning a document, editing it and sending such documents to you is also possible for scammers. That’s why the next point is very vital.

3. Verify the Authenticity of the Business License

The tax department of Cameroon has made it possible for individuals asking about the authenticity of a business licence or tax clearance certificate to do so online on the website of tax department. It will confirm that the company is legally registered. This is described below:

• According to the General Tax Code of Cameroon, only taxpayers (natural or legal) who are liable to pay taxes and duties can request a tax clearance certificate. The Finance Act of 2015 also clearly states that the tax clearance certificate is the only document which proves that the taxpayer is compliant with the administration.
• The Finance Act of 2017 also spells out the instances in which a tax clearance certificate is required, the conditions on which it is issued and the period of its validity.
• Tax Clearance Certificate is issued to businesses that have the taxpayer’s number. Taxpayers’ numbers are issued to a business only during registration in Cameroon.

If the online verification is valid, it means that the person with whom you are doing business online is actually running a registered business. However, in case something is doubtful and you want extra surety then feel free to opt for our Business Verification package.

Certificate Verifier is a modern-day platform that aims to help individuals, groups and businesses work smoothly by identifying and eliminating obstacles such as scams and frauds that come their way.

We have served hundreds of clients over the years and from document verification to business verification we have provided them with the required services. We helped them by protecting their reputation, finance, and working operation. But recently we encountered something that forced us to change our way of thinking.

While investigating some clients we came across some crazy fraudulent activities happening in Cameroon, Africa that need to be shared with the world. So that in the future no one else will fall into the trap of these frauds.

What’s the Matter?

Known as “Africa in miniature”, Cameroon is a country with a huge timber industry. Cameroon’s logging industry produced more than 5 million meters of logs in 2020. Thus, it holds a significant percentage of global timber logging activities.

The domestic timber industry in Cameroon is extremely important to the economy and creates thousands of jobs. But, in recent years the picture is not as clear as it was before. Since last year there has been an increasing number of cases of Cameroonian companies taking payment and non-delivery of wooden logs.

A few of our clients who were in the way of making a deal with some Cameroonian timber companies, opted-in to our business verification plan and requested us to investigate the companies they want to deal with or want to place an order with them.

While investing, we found that those companies are cheating people and businesses around the world and we also found some solid proof against them. Additionally, all the details provided on the website are false and all the content is copied from the official website of one reputed company that you can easily find on google.

These companies have been cheating people and businesses for the last couple of years and if you as an individual want to check the authenticity of their businesses then check the details provided below.

Is Cameroon Wood Production Company (SCPbois.net) a Fraud?

Yes, it is! Cameroon Wood Production Company is a fraudulent company with fake details. It can be easily observed with the details the company is claiming on its official website i.e. Scpbois.net.

So, on its official website, the company and its website is active in this industry since 2012 however a simple search in the whois database will tell you that the domain is registered in 2021. And as we already revealed above, all the content, even images, are copied.

Additionally, if you will search scpbois.net on google then you will also find a  number of their previous fraud cases, works, and evidence as well. Most of their old links listed on google will be redirected to other websites.

Additionally, we also have payment proofs in the name of SCPB and also have the contact details of the people and businesses who made the payment and even after months, there are no updates about their orders.

Is Cameroon United Forests (cufcm.co) a Fraud?

We have a number of payment proofs and an actual payment maker in contact that will tell the story of the fraud of this company. They have a good online presence and knowing about their fraud activities is not that easy.

Check the receipts attached to this blog to know about the payment made and feel free to contact us to know the actual payment maker who is still waiting for their wooden logs.

That’s all for today, stay away from these companies and choose genuine companies to deal with or place orders with. Even after taking all the precautions and checking all the details, if something doesn’t seem right, contact the certificate verifiers and opt-in for the business verification service. We will make sure that you only meet genuine companies and people.

Doing business is not easy, the first task a businessman has to do is to balance his/her personal life and corporate life. They have to balance family and work, they have to take care of their employees as well as operations and they also have to think about the future of their business.

Whether you are running a small business or a large enterprise. Fraudulent activities are like a nightmare for businesses of all sizes. And recently we found that businesses in Cameroon are at higher risk because some fraudulent companies are taking some serious steps there.

How Fraudulent companies are harming businesses in Cameroon?

Normally firms or businesses interact with each other through corporate partnerships, financially, legally, supply, through leadership and peer advisors, through clients, employees, and competitors. 

It will also harm the real firm, its operations, its employees, its finances, and its reputation. Additionally, it will take time for the company to regain its position which will help its competitors gain an advantage.

As per our findings, there are various fraudulent companies in Cameroon that are creating a huge risk to reputed businesses. They have created a few already and they are trying to lure a few more.

Cameroon is known for quality timber and timber exporters, and it is a very shocking fact that in the last few years the maximum number of fraud cases has been reported in the same industry.

Since we have been in this business for some time, we have received many complaints with proof of payment. Some of them have also been given these statements online by the victims.

Recently we received some companies from a few global timber importers that have made payments for timber logs with proper documentation to a firm called Cameroon United Forests and after making the payment they have not received any update in the last three months.

Mentioning the name of a firm in one such article is not an authentic move, but there are some serious complaints and solid proof against them. Which makes their operations and existence a bit suspicious. There are a few more names we will reveal in the future.

And here, we would like to clear the wind by declaring that we are a verification firm and clients hire us to do verification of companies like Cameroon United Forests. Such companies pretend to be legit but after receiving payments they actually do not ship wood.

It is unacceptable, but it is happening and businesses and people from not just Cameroon but globally are at huge risks. So how can we eliminate them?

Certificate Verifiers is the Savior

Whether you own a business or not it is advised to always check all the details, documents, and track record of a company before making any deal or placing an order.

We have included just one example but there are many more who are doing fraudulent activities for years without getting noticed. To keep them at distance you can take the help of platforms like Certificate Verifiers.

Certificate Verifiers has been protecting businesses from all these fraudulent companies so they can operate fearlessly. Certificate Verifiers offer vital services under its Business verification package, which will help genuine businesses to keep at bay.

So take a look at the package and services and hire Certificate Verifiers now.

An organization may meet with several kinds of risk if they lap in strategy, compliance, environment, health, profit, and safety. These types of risks can influence a firm’s bottom line along with its reputation around customers. Here, risk management plans can aid to mitigate them. In this article, we will go through a different business risk and the method to control it. 

Types of risks that businesses need to take care of

Business risk is defined as the risk which can occur in the company because of a lowering of profits or leading it to fail. Here are some business risks that we should focus are – 

Fraud Risks –  When you indulge in some business or somehow you get connected with some association in n. There are some moments when you get cheated by your business partners or by directly to the firm whom you are connected with. This fraud is known as fraud risks. 

Reputational risk – A reputational risk is a type of risk that causes a threat to a company’s opinion, or company’s standing. Due to these risks, a profit can be lowered and a lack of confidence raises among shareholders of a company. 

Operational risk –  This kind of risk happens when regular days of activities threaten to lower profits. In the firm internal systems or external factors can be the reason for operational risks for firms. There are some specific types of operational risks are – 

• Damage to assets 
• Employee errors
• External Fraud 

Human risk – Now, human risks in the organization can emerge because of employees ‘failure to perform their necessary tasks in their workplace. Factors that influence human risks such as employees do not have control over their health issues or intentional actions like theft or fraud. Once a business goes through a human risk, it can lead to a loss of profit. 

Security risk – Security risk is a risk that can be experienced in business if it fails to create or follow strategies of cyber security. The different factors which can lead to the security risks are ineffective training for employees, lack of software testing and insufficient policies for security updates can cause firms’ finances and reputations at risk. 

Competition risk – A Competition risk can occur when a competitor grabs an increasing share of the market for a service or product. Sometimes, it is also called comfort risks. And the reason firms from former executives turned out so relaxed with a firm’s performance is that they actually fail to make constant improvements to the organization’s product or services. 

Physical risk – Physical risks are the kind of risks that threaten an organization’s physical assets, such as equipment, buildings, and employees. The reason behind physical risks involves damage to natural disaster fire in a building and there could be a deficiency of training on proper equipment utilization. Businesses may be required to pay for repairs to physical assets due to physical risks. 

Whether you are starting your own business or are in this industry for a while, you should be well aware and attentive to the kind of risks you‘ll meet. We have listed some of them above but there are many more. While making a deal or hiring an individual or firm you can avoid most of the risks just with Online Document Verification and background check. 

And to eliminate this kind of trouble in the future Certificate Verifiers has come up with an innovative idea where you get a platform to identify your competitors, business partners, and others. This Certificate Verifier is an advanced way of certificate verification website. 

Through this platform, you can easily access the authentication and certification of your partner company. And apart from it, you can also get the authentication of the details of your asked business partners or the firm whom you want to know more about. And it does provide all the details and certification of your concerned organization within a minute.

Document counterfeiting is more common than people think, especially in the world of the digital age it is a common issue businesses have to deal with regularly.

However, It is no longer just limited to job search, fraudsters are now pretending to be a firm and business to play big fraud games with authentic businesses.

Recently, in Nigeria, a group of fraudsters was caught by the police as they defrauded nine well-known companies.

They were fortunately caught when Tenth Company got suspicious about their business and ran a process to verify their documents and background verification.

Had the first nine companies also been alert and got the documents verified, then perhaps this fraud would have been avoided.

It is not just about nine companies or one country, it is about the risk factor which can be avoided by adding just one simple process to the business structure.

Certificate Verifiers are here to help, it will ease the implications of the certification verification process in your business operations. By doing so, it will keep you and your businesses safe from fraudulent activity.

Many businesses from African countries especially Cameroon and Nigeria are using our services and we are committed to providing stronger services in the future as well.

Business Verification

Finding potential suppliers/customers/partners using an online directory is an easy task, but getting ensured that the business you choose is legit is not.

We, Certificate Verifiers, will help you identify and authenticate potential business partners to assure they are who they say they are.

Under our business verification service, we verify that a business is legally registered. We also verify their address, official name, and their scope of business, along with other official registration details.

Better advance due diligence on your suppliers/ contractors /customers/partners in Africa increases accountability and reduces fraud, wastage, and financial loss.

With our business validation services, we can give you the confidence to quickly and accurately validate business prospects, customers, and vendors by giving you critical validation data in an understandable format.

We at Certificate Verifiers offer business verification services in three different packages. i.e. Basic, standard, and pro. You can easily choose one from them as per your requirements and the details you want.

So don’t just wait and watch, protect your business with Certificate Verifiers and its business verification services.

Certificate Verification

Certificate Verifier is one of its kind platform that helps you by checking the authenticity of the uploaded document. Our platform can help businesses to verify the certificates or documents of their employees and job seekers.

Certificate Verifier is a modern certificate verification service website where you can upload the certificate after filling in some basic details and then we will verify it and you will receive an email from us with proper authentication details of the uploaded certificates.

In this way, you can check the authenticity of all types of documents, including but not limited to Identity Documents, Certificates of Authenticity, Certificates of Registration, Certificates From the Ministry of Art and Culture, Certificates From the Ministry of Finance, Certificates From UNESCO, Certificates From ICOM, Title Deeds, etc.

Since Certificate Verification Service  is free of cost and most of the important documents are already included in the Business Verification service, you can pick up a package and start worrying less.

Certificate Verifiers is here to make a positive difference in the way businesses operate. With us, you can focus on the core part of your business operations and strike better deals with peace of mind.

Care must be taken in establishing trust in all matters. This is important in any field but it is especially true in business, because many parties are invested in the success of an enterprise, from managers, executives and shareholders to employees and their families.

The consequences of a missed opportunity can be costly and disappointing. Whether you are representing yourself, a business as a lawyer, or you are representing your own organisation, there can be no doubt about the legality or authenticity of any documents/ transaction.

Business document authentication is the main consideration of any international case. The chain of trust that authenticate & validate a document is widely used both inside and outside the corporate world.

If you are unsure whether your particular situation will call for authentication services, or need assistance with any area of ​​the process, you will need to contact a professional business document authentication service provider to get help. They will not only authenticate your certificates but they will also help you in wider matters with their extensive experience.

What is Business Document Authentication?

This process is widely used by companies to ensure that the documents submitted to them are accurate and valid. There are many cases and situations where people try to provide fake documents to get a job/ deal or benefits, which is why businesses request a verification process to make sure paperwork provided by you or any other business is accurate.

If you are there for a job, they are actually verifying your work eligibility as well as other information like date/place of birth and whether you have obtained your diploma or not, with this paperwork.

The traditional way to authenticate a document was at first you will need to speak with someone in the Office of Authentications at the State Department so that a government official can sign the document to provide the necessary verification. In some cases, you may work with a notary public who signs the document to ensure its validity. However, this process has been replaced by the digital mode of document authentication.

The modern day method of Authentication of documents consists of an online verification platform that authenticates the document for the user or businesses and provides the details of authenticity.

Basically, these platforms compare the presented data with verified data sets to verify that a person is who they say they are. Therefore, any document authentication service first needs the data or document to check its validity. Then the system compares the submitted data with the verified data and if both match then they will pass a message that the document is authentic and valid and if both do not match, the system will alert the user and also inform the concerned authorities.

Why Do You Need a Professional Service?

If not all, but still a large number of countries have the traditional way of document authentication. Someone needs to be present to stand in line to get the required authentication. Professional service providers eliminate the need of travelling to a state office and standing in quee. They will take care of all if you provide them all the required details and proper documents.

A professional document authentication service provider can save your time, resources, effort and money. You just have to provide them with all the details, certificate and their fee and they will take care of everything.

You can simply mail them the required information, you are provided with a quote and an explanation of the process they will begin to authenticate your documents. Once you send them all the required documents, they will take the documents to the applicable government offices, stand in line and get proper authorization for your documents. Once the documents are authenticated, they will send the documents back to you quickly to offer faster turnaround times.

How can Certificate Verifier Help?

Certificate Verifier is a digital business document authentication platform. It handles all of the above steps for clients and corporations to ensure that documents are authenticated correctly and in the correct order.

Certificate Verifier is fast and reliable online document authentication platform where you can get your certificate verified with almost no effort.

Certificate Verifier is a modern day online certificate verification system where you can simply upload your document or certificate after filling some basic details, and then it will be verified and you will receive an email containing the appropriate authentication details of your certificate. Contact us today to learn more about the authentication services available from certificate verifier.