The scam relies on the fact that you have a local domain registered in one or more territories. For argument's sake, call this domain 'my_company.com'. You receive an email from an overseas domain registration service suggesting that someone has applied for 'my_company.asia' and, as this could lead to brand or reputation difficulties in these territories, the domain registration company wants to confirm that you have no objections to this registration proceeding.

Most companies would reply, immediately stating that the company needs to secure these overseas domains. At this point, the fake registration company has you! Hook, line and sinker. By providing payment details you expose your financial details to overseas fraudsters who, even if they do actually register your overseas domain, charge an extortionate amount to resolve the conflict on your behalf.