Warning: SBCA Member Receives Fake Dues Invoice
Editor's Note: The following article details how an SBCA member company received fraudulent correspondence regarding their member dues payments. This is the only case SBCA is currently aware of, but all members are asked to closely review the dues invoices and payments. If you suspect you have received fraudulent correspondence please contact SBCA staff.
“Double check who is sending you mail these days,” says SBCA’s Accounting Manager Mike Younglove, “especially if they are asking you to change any financial information.”
Mike’s warning comes after an SBCA component manufacturer (CM) member recently had over $6,000 fraudulently stolen from them. The company was mailed a letter indicating they needed to change the remittance address for their SBCA annual dues payment to a P.O. Box in Texas. After doing so, and sending five payments to the new address, the checks were cashed and the money was essentially stolen from the company.
“Be on alert, “Mike says. “There are some things you just need to always question and make sure is right before taking action.”
A key indicator for this type of fraud is if the new address is different from the address on the invoice, Mike says. If this is the case, be sure to contact the accounting department of the vendor requesting the information.
For example, SBCA has had the same address for over 20 years and has no plans to change it. In all that time, Mike says this is the first time something like this has happened. SBCA staff is working with the member's financial institution on the fraud investigation and the case is still active. It serves as a good reminder that anyone handling mail within a company needs to be alert for attempts like these to defraud them.
Any questions about your SBCA account can be directed to Mike Younglove, or by calling 608-274-4849.