Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Business > General Business Discussions

General Business Discussions A place to talk about general business discussions.

Beware of this business scam

General Business Discussions

A place to talk about general business discussions.
Thread Tools Search this Thread
Old 08-08-2005, 03:30 PM
Steve's Avatar
Steve Steve is offline
Join Date: May 2003
Posts: 38,073
Rep Power: 10
Steve has disabled reputation

Here is something very interesting that was sent to me.

Originally Posted by [b
Quote[/b] ]The "Please cash our check for $4.23" scam
A newer and even more brilliant scam, this one starts by actually putting money in your pocket and then proceeds to take much larger amounts out. It goes like this:

The scammer finds your business's name and address on the internet or through a business or Yellow Pages directory. The scammer then mails you a check for a small amount, say $4.23, which is payable to your business. Your accounts receivable clerk dutifully deposits the check along with the 43 other checks you received that day.

You've just been scammed!

But how can cashing a check for $4.23 hurt your business? Here's why: When the check comes back to the scammer, the information on that cashed check allows the scammer to learn your checking account number which, as we saw in the first scam, allows them to start writing demand drafts on your checking account.

Talk about a great ** but illegal ** return on investment. The scammer spends just $4.23 to obtain valuable information that can lead to hundreds if not thousands of easy but illegal dollars. Pretty clever, I'd say.

What to Do: In addition to eternal vigilance in reconciling your checking account, an early way to detect this scam is to have your accounts receivable clerk reconcile all incoming checks with existing customer accounts and balances before cashing any check. If a check isn't expected or isn't from a regular customer, don't cash it until you can determine the source.

It's seems really sad to me that there are creative and brilliant entrepreneurs out there who decide that developing new and better scams to steal from people is a better business model than being the owner of a business that actually helps people and adds value to their lives. And it's even sadder if your business unwittingly starts "doing business with" these entrepreneurial scammers.

So keep your eyes open, and you'll avoid these unwanted business partnerships.
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator



Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
Say Hello !!!
03-19-2007 11:18 AM
10-21-2016 10:11 AM
by Steve
1,262 446,832
Been here for a while
01-29-2014 04:49 PM
10-12-2016 09:57 AM
by Steve
3 1,548
Any successful one man...
09-26-2016 06:04 AM
10-06-2016 05:07 PM
by WarriorLandscapingCAN
9 796
Is there a sticky about...
10-03-2016 06:08 PM
10-04-2016 09:50 AM
by Steve
1 200
What were your top...
09-13-2016 05:10 PM
09-30-2016 11:49 AM
by AKDave
6 2,494
Define Successful
Fireman Gus
05-10-2012 05:12 PM
09-30-2016 11:39 AM
by AKDave
12 5,851
A quick Intro
08-14-2016 05:17 PM
09-29-2016 12:53 AM
by myrlage
3 1,671
Enter to win Free...
09-25-2016 11:28 AM
09-26-2016 05:41 PM
by Steve
1 573
» Popular Tags
annual apartment become an entrepreneur best mower be your own boss bidding business business education business help business management complex contractor hacks contracts convention converting customer dethatcher edging entrepreneur entrepreneur education estimate estimates fuel problems fuel pump half moon blade intro introduction jjandm lawncare landscape landscape design landscaping landscaping design company landscaping richmond va lawn lawncare lowering grade marketing mulch planting raising grade residential lawn care richmond va richmond virginia lawn care seasonal snowblower snow plowing snow shovel sprayer start a business start a lawn care business start business start up toro timecutter townhome tree tree service web design websites what to charge work from home z-max z-spray
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 06:06 AM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 06:06 AM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy