Security & Risk Management

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Scams target chip buyers

The shortage of chips has become fertile ground for scammers eager to cash in on gullible buyers.

Bottom line: You should double-check the legitimacy of any organization selling electronic components.

Otherwise, fraudsters may take your money and give you nothing in return, as ERAI, Inc. warns. This global information services organization monitors, investigates and reports issues affecting the global electronics supply chain.

How scammers get away

ERAI gives this example:

“An individual by the name of Nick Martin, using multiple aliases, has created and/or is affiliated with numerous companies and websites that fraudulently advertise having electronic components in stock. 

“Martin requires payment in advance, often promising the parts are ‘in stock’ or ‘ready to ship.’

“Payment is wired but the parts are never delivered. When the victims chase a refund or delivery of the parts, their communication attempts are dodged or are completely ignored. “Monies wired to Martin are never recovered.”

ERAI’s account includes the names of numerous companies and websites associated with the fraud.

Mark Wiener

CEO

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