From Andrea Schlack at the Printing Industry Credit Bureau
There is a new scam circulating that has already cost companies thousands of dollars so we want to inform Printing Industry Midwest (PIM) members (please communicate to your customers as well) and hopefully avoid any further damage.
Here’s how it works – a customer receives a communication from what they believe is their vendor, directing the customer to pay all future payments by ACH and account info is provided, that account of course belonging to the fraudsters and once money is sent that account gets closed and they money is gone.
I know of 4 companies so far that had their payments diverted and while we were able to recover them, the issue if more far reaching, as now the fraudster knows the live info and can spread it more maliciously.
My suggestion for the short term and KNOW I AM RESEARCHING THIS FURTHER for everyone’s benefit – but short term rapid moves need be done to protect profits.
For further information or questions, you may contact Andrea at 847-265-0400
PIM members may want to send a communication to customers that says something like – If you receive a communication stating our invoice payment methods have changed, contact us immediately as we assure you they have not. We still accept checks and credit cards and will allow ACH or wire and when requested, instructions will be provided
If you have been victimized you MUST contact the police and the insurance company or risk not getting the loss covered, and they need to remember the customer who was also conned, is also a victim – mend bridges, do not put up walls!
Feel free to contact me should you have any questions and I will do all I can to help