02/20/2025
Cautionary Tale from a GMA Member
Like most printers, this member is always looking for additional business. They solicit business through their website and do get valuable leads there. However, because with most of these, they don’t know anything about the entity looking for work, they proceed cautiously. In most cases, the company will ask for payment in advance of doing much work other than reviewing a pdf.
This member company was recently contacted, and the president forwarded the lead to one of the sales reps. They reached out and quoted the job for 150,000 flyers. It was indicated by the company that they’d need payment in advance. They agreed to send a check and forwarded the job file. The member company prepped the job and received the check via express mail. It was a cashier’s check drawn on KeyBank.
This is where it got a bit strange and they became concerned. The scammer asked for a copy of the deposit slip to show that the check had been received and were beginning to work on the job. They refused and indicated that an invoice would be furnished showing it was paid in full. This was on a Friday. By the middle of the next week, two things occurred. First, they reduced the quantity on the job and requested that the member company issue them a check for the difference. They told them they wouldn’t do that until the job was completed and delivered. At about the same time, the member's bank refused to honor the cashier’s check. Of course, now they were on full alert. The scammer didn’t respond to their calls for a few days. Then amazingly enough, they reached out asking for an invoice via Quickbooks and would pay via an ACH payment. The member company refused and told them that until they furnish a check that clears the bank, the job was considered dead.
Every indication is that this was a fairly elaborate fraud to get the member company's bank account information.
Please be very cautious and aware going forward. Additionally, this company has implemented a positive pay procedure with their bank where they upload a copy of all debit transactions to the bank in advance. The bank will then refuse payment on any item that is not on that list.
If you are ever suspicious of an unknown company that has asked to do business with you, you can always contact the Printing Industry Credit Bureau for assistance.
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