As not all SMEs are familiar with the relevant law and regulation, some TVP agencies or consultants will set up and defraud victims’ money. Victim companies may also suffer legal risks.
The Competition Commission lodged a case on 22nd March 2023 in the Competition Tribunal against 4 IT companies. The case told that these companies unfairly obtained 189 projects in “D-biz” with cover bids and the corresponding amount is about 13 million dollars. This is the very first case, and what is cover bidding? Cover bidding … Read more
Hello everybody. You may read BizMagnet article “Common TVP fraud” and know some common tricks the fraudsters do. Recently there are more new tricks over the phone, one you are framed you may lose hundred of thousand HK dollars. Basic: Technology Voucher Programme TVP “Hi, let us get TVP money together!” First, the scammer will … Read more
BizMagnet consultant wrote about TVP fraud in 2020, around the third wave of epidemic. Nowadays, Hong Kong business environment changed completely, and many businesses closed due to social distance measures. Even the HKSAR Government launched number of supporting scheme, such as D-Biz, enhanced 100% Special Guarantee Loan scheme and extended Export Marketing Fund etc, local … Read more
