A Cheesy Variation on a Classic Fraud
You can never be too vigilant
That fact that, in one form or another, Credit Fraud’s are being committed within plain sight was illustrated by the following story, which ran in the October 30, 2024, edition of The Free Press:
England is reeling after “the grate cheese robbery.” Impostors pretending to represent a French supermarket chain stole 22 tons (48,500 pounds) of cheddar worth almost $400,000. Neal’s Yard Dairy, a London-based fromagerie, delivered two massive shipments in September. But the payment, due October 7, never came through and the contacts went cold. (Feeling blue, they alerted the police.) The robbers really got the goat of British celebrity chef Jamie Oliver, who made a public appeal on Instagram to “find these cheese stealers.” He wrote, “Remember, if the deal seems too gouda to be true, it probably is!” As far as dairy crimes go. . . this one is crackers.
Fraud comes in many forms. One of the most common involves representing yourself as somebody else. Sales representatives, eager to make their numbers, are often good marks, and in this case, what credit executive is going to turn down an order from a well-known and respected supermarket chain.
Unless, of course, the order seemed too good to be true. If the supposed representatives of the supermarket chain were not known to the supplier’s employees, best practices dictate the Purchase Order (PO) for the cheese be confirmed with the supermarket chain. Using a fraudulent PO is a common criminal tactic. Requiring a credit application and thoroughly vetting it is another way to limit the ability of criminals to commit such a fraud.
For more about fighting fraud, check out “Desperate Times Invite Business Fraud.”