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Fraud Warning

The MDNA has been alerted of a new fraud perpetrated against some in the dealer community. As reported to us the scam goes like this:
  • The criminals first contact dealer A to buy a machine and acquire the dealers wire transfer information, "in order to pay for a machine."
  • The thieves then use the information to create a fake check appearing to be from dealer A.
  • Next the thieves send the check to appear as it is from dealer A to the bank of dealer B for deposit.
  • Contact is then made with dealer B to let them know they have paid for a machine by depositing funds directly into their bank.
  • Finally the thieves request that dealer B send a check in order to cover freight for a fake freight forwarder.
Two MDNA members have responded to this fraud alert with additional information and suggestions. 

"The fake checks are also being used to 'purchase' items on eBay and Craigslist. This has happened to us twice in the past week. Another variation is writing the check for more than the purchase price and then requesting a refund for the difference. The recipients of the checks called us and we were able to notify our bank immediately. We are fortunate that our wire account is strictly an online account, with no paper checks, so the block is immediate. Anyone using their operating account for wires is at greater risk." — MDNA Member

"What we do is have a second account with $ 100.00 in it. This is the information we give out. Once we receive a wire transfer usually we are notified by customer to be on the lookout.  Once received it is transferred to our regular account again only leaving a $100.00, so if anything happens the most they can hit you for is $ 100.00 and that’s it. Most banks will not charge you for the second account if you tell them what you're doing and why." — MDNA Member

As always Dealers are warned to be diligent in all transactions and to verify all transactions for legitimacy.  more

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7701 Las Colinas Blvd., Ste. 800, Irving, TX 75063