By John Geronimo
Executive Director, Fraud Strategy, Commercial Banking
By John Geronimo
When it comes to supply chain management, there’s a world full of risks you need to consider. These disruptions can range from geopolitical turmoil to natural disasters to technical glitches.
And while outside factors can cause countless uncertainties for your global supply chain, there’s one thing you can count on: Bad actors will try to take advantage of the situation.
You don’t have to look hard to find brazen examples—like this $35 million suspected PPE scheme. Or this $2 million crypto graphics card scam. These examples reinforce the old adage: If an offer looks too good to be true, it most likely is.
Many of these cases involve people or entities you don’t know. They’ll often reach out during a sudden disruption, when you may be compelled to make decisions that would otherwise be outside of your risk tolerance.
When vetting potential suppliers, there are things you can do to help manage your supply chain risk. Here’s a checklist to help you consistently research possible partners:
Download your copy of the 10 tips below. And remember, if something sounds too good to be true, it probably is.
Find articles and tips to prevent fraud attacks on our Commercial Banking website. You also can contact your banker to learn more about all the ways we can help protect your business.
© 2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/commercial-banking/legal-disclaimer for disclosures and disclaimers related to this content.
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