Over the past year, large-scale sanctions were imposed against Russia by a number of states and organizations. Export bans on the supply of key and necessary goods, as well as geopolitical measures of a financial and economic nature have led to the rupture of the usual supply chains from abroad and the withdrawal of many companies from the Russian market. Taking into account the new global and political reality, parallel imports were legalized.

Parallel import is the process of importing goods to Russia produced in other countries without the official permission of the copyright holder.

In order to develop new markets, stabilize and protect the Russian economy, and prevent shortages of important goods, the Federal Law No. 213-FZ of 06/28/2022 was adopted, legalizing parallel imports. Goods, that can be imported without the permission of the copyright holder, are provided in the list of the Ministry of Industry and Trade.

Parallel imports have become a significant share in the total trade turnover of Russia with other countries of the world, especially in the Asian regions.

In 2022, the trade turnover between Russia and China increased by 29,3% in annual terms. At the end of the year, the figure was a record 190,27 billion USD. This was reported by news agencies with reference to the data of the Main Customs Administration of the People's Republic of China. The trade turnover with India in 2022 increased by 130% in annual terms and reached 31 billion USD. Also, according to the statement of Denis Manturov, the Minister of the Ministry of Industry and Trade of the Russian Federation, in 2022 the trade turnover between Russia and the UAE increased by 68% compared to 2021 and reached 9 billion USD.

Official data confirm the turn of the global Russian economy to the East, and such a significant increase in trade turnover with Asian countries shows a significant restructuring of business in a new direction.

Building new partnerships with counterparties allows not only to establish import supply chains of goods and technologies, but also to promote domestic products to foreign markets.

However, without due diligence and deep analysis of the counterparty, cooperation with foreign companies is associated with the risks of financial losses. There is a risk of entering into transactions with an unreliable company, the risk of supplying counterfeit or defective goods.

Fresh investigations are being prepared by experts of the Information Agency Credinform in cooperation with a wide network of local experts. The document complies with international standards and includes, in particular, registration data, management, shareholders, types of activities, balance sheet, profit and loss statement. Taking into account the changed conditions, a unified risk assessment of foreign companies has been added to offline reports. The expert opinion also includes an analysis of the company's activities, a study of the financial condition, checking for sanctions, debts, participation in court proceedings, etc. Experts opinion on maximum credit and credit risks are based on the analysis of financial statements and the facts of the partner's activities. The experts of the Information Department additionally search for affiliates and subsidiaries in Russia, and verify participation in legal proceedings and enforcement proceedings in Russia.

Along with commercial due diligence when choosing a partner, it is necessary to mind the following requirements when selling goods obtained by parallel import:

When working with a foreign counterparty, it is important to comply with the legislation of the country of each of the parties to the contract and pay special attention to the study of financial sanctions and export-import restrictions.

In addition to the global sanctions lists of the United States, EU countries, Japan, Great Britain, Canada, etc., it is important to take into account Russia's Special economic measures against a number of legal entities and individuals the transactions and any trade and economic activity with whom are prohibited.

Check whether sanctions or special economic measures of Russia have been applied against your counterparty using Globas. Automate your clients and counterparties check with the Sanctions Risks report. The functionality of the report allows you to carry out a comprehensive analysis of legal entities, individual entrepreneurs, divisions and persons for inclusion in the sanctions lists, evaluate indirect and secondary sanctions, including the 50 Percent Rule.

Any company of any field of activity and size can face the fraud in public procurement. Despite the detailed regulation of procurement, as well as criminal liability under the article on fraud, there is still a wide variety of schemes both among customers and suppliers.

Commercial due diligence must be exercised to avoid fraudulent procurement. The Information and Analytical System Globas helps to identify signs of shell companies and unreliable organizations, as well as to analyze a bulk of public procurement and commercial tenders, and to conduct detailed study of the documentation for each submitted procurement.

Let's consider five popular fraudulent schemes, and Globas tools that will help protect against them.

A fictitious company registers on an electronic platform and organizes a bidding procedure in the form of an auction. To apply for participation in the selection of a supplier or become a potential supplier in the procurement under the Federal Law 223-FZ, it is necessary to make a contract security. The amount of security should not exceed 5% (the Decree of the Government of the Russian Federation of December 11, 2014 No. 1352 “On the specifics of the participation of small and medium-sized businesses in the procurement of goods, works, services by certain types of legal entities”). Fraudsters can directly contact the procurement participants and request security in the amount of more than 5% of the lot value. Once security funds are received, the auction is cancelled.

Globas contains a large number of public procurement and commercial tenders. Searching by tender number, you can check its existence, status, and security amount. If the amounts of the security do not match, then any contacts with the person demanding money must be stopped. In addition, before making a security, it is necessary to check the potential customer: the duration of the company, the accuracy of information, legal proceedings, etc. If a risk is identified, Globas will display it in the form of special factors.

Fraudsters send out invitations to participate in the tender, for example, on behalf of JSC GAZPROM or Russian Railways. The tender itself on the website of the Unified Information System (EIS) or on the electronic trading platform may not exist. In the invitation, fraudsters offer to participate in the tender, while indicating that in case of payment for participation or making a commission for concluding a contract, participation as a supplier is guaranteed. After receiving the money, the scammers disappear. This scheme is the most popular and is constantly being improved. Now fictitious customers invite to participate in real tenders created on behalf of large companies. However, dummy details (bank accounts, phones, e-mail) are given.

In Globas, in addition to information on procurement, accompanying documents are also added: contracts and all procurement documentation. In order not to fall into a fraudulent scheme, it is enough to verify the registration data from the customer with the data in Globas. In case of difference in contact details, registration data, subject of procurement, cooperation with a potential customer must be terminated.

Fraudsters conduct a commercial tender, which provides for the security of the bid. However, the money is offered to be transferred not to an account on the electronic trading platform, but to the customer's settlement account. After the due date for submitting bids is expired, the customer disappears and no longer gets in touch. And the supplier loses money.

Thanks to the documents for the tender or procurement, which are available in Globas, it is possible to determine where the customer wants to receive the security. If the information card contains the settlement account and not the account of the electronic trading platform, then most likely the customer will collect security from all participants, cancel the purchase and disappear.

The supplier offers the goods at a low price, the customer, wanting to save money, makes a deal and pays for the goods, or transfers an advance, and the supplier disappears with the money.

A potential supplier is invited by e-mail to participate in the tender or procurement. In case of interest, in a response letter, the supplier will be asked to send a commercial offer. After 2-3 days, the scammers contact the supplier and inform that one's offer was the most profitable and ask for a set of documents necessary to participate in the tender or procurement. However, among the well-known list of documents, a certificate is mentioned, without which it is impossible to conclude an agreement. After the potential customer finds out that the certificate is missing, they offer to make it for an additional fee. After receiving the money, the scammers disappear or send a document that does not meet the standards of the official certificate.

Globas will help to check the reliability of a counterparty: assess risks according to more than 350 criteria and prepare compliance reports; receive official extracts (EGRUL, EGRIP, GIR BFO, RSMP, etc.). Do not neglect public comments that Globas users leave on unreliable counterparties, as well as feedbacks on the Internet. A potential supplier or customer can always be checked for negative feedbacks.