2013 September October

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1 After Becoming a Bankruptcy Creditor, Stay Engaged In the Process Ava Schoen, Attorney, Tonkon Torp LLP A Notice of Chapter 11 Bankruptcy Case arrives in your mail. A business that owes your company money has filed for Chapter 11 bankruptcy protection. What can you do to protect your company s interests when a business relationship becomes a debtor-creditor relationship? Here are the most important things to know: Don t violate the automatic stay Avoid the urge to use the notice of a debtor s bankruptcy filing as an opportunity to make a last-ditch effort to get paid. As soon as the bankruptcy case is filed, an automatic stay goes into place that prohibits creditors from commencing and pursuing lawsuits against the debtor, enforcing judgments or lien rights against the debtor, or otherwise trying to collect the debt. While there are exceptions to the automatic stay and ways to get relief from the stay, they are limited and must be handled properly. Be sure to get good advice if you want to pursue any such alternative, because violation of the automatic stay is generally punishable by contempt, which can mean a fine or even criminal sanctions. Stay informed The debtor is required to share some, but not all, court filings with its creditors. If you really want to stay informed, file a request with the bankruptcy court to receive copies of all filings. Just be prepared to receive a lot of paper. If you decide to retain a bankruptcy lawyer to protect your company s interests, he or she will have access to the bankruptcy court s electronic database of all filings. Consider attending the 341 meeting of creditors Not long after a bankruptcy is filed, a lawyer for the Office of the U.S. Trustee (UST) will conduct a meeting with the debtor, and creditors can attend. This meeting is a good chance to obtain general information about the bankruptcy process and the debtor s case, and to have your questions answered....continue on page 18 In This Issue Bankruptcy Creditor... 1 Chair s Message... 2 President s Message... 2 Western Regional Credit Conference... 4 Key to Success... 5 NOF Scholarships... 7 New Designee s... 7 Education & Events... 8 Credit Learning Center... 9 Credit Ambassador Award International Corner Experian/Moody s Analytics Consumer Credit Education Contacts Page 1

2 Message from the Chairman Hope you have all had a wonderful summer and are ready for an even more exciting Fall Season. While I was unable to attend, my sources have informed me that our first Meet and Greet was well-attended and lots of fun. There will be another one in October and your Board of Directors will be in attendance. I hope to see all of you there. Financial Statement Analysis I starts on October 1, if you are trying for your CBA, this is one of those must have classes. Please get enrolled right away. There may be scholarship money available; please check with the Foundation. At this point, I have attended over half of the local industry trade groups and been able to meet a lot of you. These visits have reinforced my view of the importance of these groups to our profession. They are a great opportunity to meet others in credit and gives all of us resources for those how do you handle questions that come up. Those questions can be anything from personnel problems to issues like construction liens or selling internationally. One of the important benefits of belonging to NACM is just that, the ability to meet other people who work in credit. Whether they are in your industry or not, each meeting is an opportunity to learn, grow, and benefit from someone else s knowledge. Not to mention that credit people are just plain fun. I encourage each of you to take advantage of those opportunities to meet your peers. There will be more Meet and Greets, CFDD meetings, industry trade groups, and of course, conferences and classes to attend. Please consider attending and meeting some of those other people who work in credit and share a little knowledge, tell a few stories, and make a connection. Marsha Johnson, CCE TEC Equipment, Inc. Message from the President Lots of Fall activities at NACM... be sure to take a look at the calendar included in this issue. On October 1, we will begin an eleven-week class, 33-hour class, Financial Analysis for the Trade Creditor. My approach is to provide an overview of the tools and techniques necessary for the trade credit manager approving credit lines. We ll review accounting structure and process, the common audit report, analytical tools and indicators, and we will flesh out how financial statements can be helpful in getting to a decision where there are substantial volumes and/or high risk. I try to make this an interesting, yet challenging class. The prerequisite of an accounting class makes it easier but isn t a necessity if you re willing to bear down and do the work. If you are seeking a national designation, this class meets the Financial Analysis I requirements. And, the NACM Oregon Foundation has scholarship funds available for reimbursement. I hope you will think about joining us. Best wishes for an enjoyable Oregon Fall! Rod Wheeland, CCE, CAE Direct: Testimonial I have been a member of NACM Oregon for more than four years. As part of the Legal Services Industry Group, I find the presentations to be quite informative and the camaraderie and support from the members of the group itself invaluable. Debra A. Ezell Credit Manager Cosgrave Vergeer & Kester LLP Page 2

3 CRF News The Second Quarter Edition of the CRF News is now available. This edition includes articles on selling into Venezuela, the use of Smart Devices by credit professionals, Unclaimed Property Law strategies for credit departments, and an economic view on the end of quantitative easing by the Federal Reserve provided by renowned economist, Mark Zandi. Now available in Flipbook format. The Flipbook version may be viewed on all Internet devices, including smart phones and tablets. For those who can t view Flash on their computers, a PDF version of the CRF News is available. National Summary of Domestic Trade Receivables Results 2nd Quarter We have received the results of the National Summary of Domestic Trade Receivables (DSO) for the second quarter of. The Credit Research Foundations (CRF) has been producing this valuable quarterly report for more than 50 years. DSO slightly decreased from the prior quarter to from A year ago the measure was Best Possible DSO decreased to 31.10, as compared to last quarter and a year ago. Average Days Delinquency decreased to 4.40 from 4367, as compared to 4.80 a year ago. The percent reported over 90 days past due increased to 0.50 as compared to last quarter at 0.35, as compared to 0.50 a year ago. Please contact Customer Service or your Account Executive for a copy. Now that you ve done the NSDTR, if you really want to see how you re doing, you ll want to participate in CRF s comprehensive Benchmarking survey. You can do that at: To those of you that provided data we thank you again for your participation. Medians for 30 different industries are included in this summary. If any SIC code has less than three responses, it will not appear in the report. So to get more participation in your industry, please mention the survey to your colleagues, and in October when we survey the 3rd quarter of, pass along the link for them to participate. Page 3

4 Western Regional Credit Conference OCTOBER 16-18, Discover your Credit particle at the NACM Western Region Credit Conference (WRCC). This three-day conference offers credit professionals all levels of core skills training. Those new to credit can select Neutron level training sessions. Proton level sessions focus on enhanced credit skills. Electron level training sessions help managers elevate their skills. Orbiting around the Credit Core training sessions are networking opportunities, keynote presentations, and a Sponsor EXPO. CONFERENCE SCHEDULE Wednesday, October 16, Two Optional Pre-Conference Sessions (fee required) 9 a.m. to 3 p.m. Credit 101 Training for New Credit Professionals Advanced California Construction Law Credit Core Conference Begins 3:45-6:30 p.m. Opening Session: Re-Engergize Your Atoms: Finding Meaning and Fulfillment at Work, Dr. Christopher Bray The Host Hotel The Golden Nugget Las Vegas 129 East Fremont Street Las Vegas, Nevada Room rates for Wednesday and Thursday are: $62 plus tax (Carson Tower) $82 plus tax (Gold Tower) $92 plus tax (Rush Tower King) $112 plus tax (Gold Club King $182 plus tax (Gold Tower Parlor Suite) Reservation procedure: Call Mention group: Western Region Credit Conference. The cut-off date for the room block is September 16,. Rates cannot be guaranteed after this date. Thursday, October 17, 8 a.m. to 9 p.m. 12 Breakout Sessions Networking Luncheon Dancing with the Credit Stars Dinner Event Friday, October 18, 8 a.m. to 3 p.m. 9 Breakout Sessions Networking Luncheon Closing Session: The Big Bang! featuring Bob Shultz Discover your Credit particle. The particle from which all great credit decisions are created. Get all the details at: Register today!

5 Key to Success by Jake Faris Since joining Roofline Supply in June of this year, Doug Jacobson, CCE, has been re-acquainting himself with lien laws, bond claims, and all that comes with managing credit in the building industry. Jacobson studied Business Administration at Lewis & Clark College in Portland. After graduation he eventually landed a job at Familian Northwest, a plumbing supply company, where he rose from Credit Manager to Corporate Credit Manager over his seventeen-year tenure. At Familian, Jacobson encountered NACM Oregon when he started attending several industry-working groups and taking part in several educational programs. He was elected to the NACM Oregon Board of Directors in May 1997 and in 1998 was the chair of the Plumbing/Waterworks Industry Group. In 2004, a couple of years after Familian merged with Ferguson, Jacobson joined xpedx, a national paper and industrial supply distribution company, as a regional credit manager. The extreme workload Jacobson had grown accustomed to at Familian especially during the company s rapid growth through the 1990s lightened to a more sustainable level at xpedx. With a travel schedule at xpedx, Jacobson was able to reinvest more time and resources into NACM. During his tenure as the Chairman of NACM Oregon s Board, Jacobson knew it was time to get serious about certification. Once I left Familian, work slowed down enough that I decided at that point to get certified, he says. With many of his peers holding Corporate Credit Executive (CCE) certifications, Jacobson had a goal. But he was concerned with how much time and effort would be needed to go the traditional route: first passing the Credit Business Associate (CBA) and then the Credit Business Fellow (CBF) certification. An NACM colleague pointed out that by that time in his career, Jacobson had already completed a four-year degree, had over 10 years of experience, and had accumulated enough Roadmap Points through his involvement with NACM that all he needed was to take a self-study course and he would qualify to sit for the exam. Jacobson breathed a sigh of relief he received his CCE in November of continue on page 6 Page 5

6 Key to Success, continued from page 5 Many of the duties at xpedx were familiar to Jacobson. Like Familian, he oversaw three credit managers and encouraged them to attend industry group meetings and NACM functions. I saw a lot of financial statements at xpedx, says Jacobson, and he seems to appreciate the emphasis the CCE exam placed on financial analysis. Five years after Jacobson started at xpedx the company made the decision to outsource their credit management services. He was integral in training and managing a call center in Guatemala. At the beginning of, xpedx began a push to consolidate credit functions to their two main business hubs in Los Angeles, California, and Loveland, Ohio. Looking to stay in the Portland area, where he has been a longtime resident, Jacobson contacted Joe Lucas, the Vice President of Credit at SRS Distribution, Roofline s parent company. Since its inception in 2008, SRS has been acquiring roofing and building supply companies across the United States. According to Jacobson, for each of their acquisitions they leave as much of the management team in place as possible. The strategy seems to be successful. They ve acquired roughly twenty distribution companies and opened nearly two dozen greenfield locations. Applying for Roofline s, Northwest Regional Credit Manager position, Jacobson again found himself appreciating his NACM certification. I found that the CCE helped a lot for this, says Jacobson, about getting hired on in June. It s what got my foot in the door. It turns out SRS is very involved with NACM affiliates across the country, and that piqued Jacobson s interest in them. I ve had experience with companies that weren t involved with NACM that have taken a huge hit because they weren t involved, he says. Being involved with NACM is a huge bonus. Their best service is loss prevention. In fact, Jacobson is planning a trip with a colleague to attend the Western Region Credit Conference in Las Vegas in October. Jake Faris is a business technology consultant and sometimes-freelance writer who lives in the Portland area with his wife, Charity, and their two children, Harper and Xavier Credit Congress & Exposition Join us next year at the Rosen Shingle Creek Resort June 8-11, 2014, Orlando, Florida, for the year s largest gathering of business credit professionals in the country. P T A i m r c 1 D E 2 D E 3 n 4 5 A n b b n N Page 6

7 NACM-Oregon Foundation Scholarships The NACM-Oregon Foundation grants scholarships to credit professionals for continuing education, professional designations, and conference expenses. To apply for scholarship funds, or for more information, contact Lourdes (Lou) Rice, NOF Scholarship Committee Chair, Pacific Metal Company at or The Foundation manages two scholarship funds: the NACM-Oregon Scholarship Fund and the Phylliss Clark Memorial Fund. The Foundation offers scholarship to the following events: CBA Wes Friesen Portland General Electric Congratulations to Wes who successfully completed the CBA exam. All NACM Oregon educational courses Portland Community College courses within the Credit Administration and Advanced Credit Administration Programs in preparation for professional designation Self-study courses in preparation for professional designation Registration and exams fees for the National NACM Professional Designation Program CFDD National Conference National Credit Congress and Exposition NACM National schools such as Credit Management Leadership Institute, Mid-Career School, and the Graduate School of Credit and Financial Management If taking a course or pursuing your certification seems like an expensive proposition, think again. These scholarship funds are a benefit to you as a member, so please take advantage by applying for next year. Submit applications to: Lourdes (Lou) A. Rice NOF Scholarship Chair Pacific Metal Co SW Manhasset Dr. Tualatin, Oregon p: f: e: Lifetime Certified Credit Executive Susan N. Brunelle Hasbro, Inc. Congratulations to Susan in becoming a Lifetime Certified Credit Executive. Those of us who hold the CCE designation recognize the significant effort in time and funding that is required to retain certification. NACM Oregon applauds both of their successes. Page 7

8 NACM Oregon Upcoming Education & Events Financial Statement Analysis I October 1 - December 3, 1-4:30 p.m. NACM Oregon Classroom 7931 NE Halsey, Ste. 201, Portland Course Objective: An introductory course in financial analysis, this class provides the student with an overview of the basic financial statements, quality issues in using these reports, and analysis of these statements for the purpose of making trade credit decisions. Outcomes: Upon successful completion of this course, the student will understand audit process, basic financial statements, audit letters and footnotes, various techniques used in analysis of the financial statements, including common-sizing, ratios addressing liquidity, operational performance, leverage, cash flow analysis, and the use of these techniques in credit decisioning. Instructors: Rod Wheeland, CCE, CAE, President, NACM Oregon Text: Lyn M. Fraser and Aileen Ormiston, Understanding Financial Statements, 9th Edition, Prentice-Hall Publishing Company, 2010 Fee: $295 members, does not include text. $495 nonmembers, does not include text. Text book fee: $89 plus S & H Scholarships: May be available through the NACM-Oregon Foundation or your CFDD chapter. Vantiv/UTA Presentation Presented by Brad McNeice, Vantiv and Rudet Fountain, UTA October a.m. NACM Oregon Classroom 7931 NE Halsey, Ste. 201, Portland Brad McNeice will cover the changing laws and the difference between surcharges and convenience fees and giving us the information needed to make the correct decision for our companies when it comes to credit card transactions. Rudet Fountain, specializing in B2B payment processes will cover EFT, ACH, and Check Guarantee service. This free session for members includes continental breakfast. (Please make a reservation so we can plan for adequate food and seating.) Certification Roadmap Introduction October 10 11:30 a.m. - 1 p.m. NACM Oregon Classroom 7931 NE Halsey, Ste. 201, Portland It s back-to-school season! Join us for lunch and a complimentary Roadmap session! Marilyn Rea, CCE, will help you navigate this path to career development. With the personal knowledge and experience of acquiring her certification, she ll share with you what it takes to make your educational goals a reality. Whether you re just starting out or trying to earn a higher certification, learn how your past and present experience can affect your future. Membership Breakfast Presenter: John Mitchell October 15 7:30-10 a.m. DoubleTree Lloyd Center 1000 NE Multnomah St, Portland The upturn is well into its fifth year, but we have not yet regained pre-recession employment levels. Heading into the fall of monetary policy is changing with a looming wind down of bond purchases as well as a new cast of characters. Fiscal policy once again faces a debt ceiling, and medical system changes are in full swing. Oregon continues to experience rising employment and income as do nearly all other states. Prospects and challenges for the nation and state will be covered. Price: $45 members; $75 nonmembers All credit designation holders may attend free-of-charge. To register or for questions, contact Shawna Kelly at or To register online go to nacmoregon.org/education/calendar. html Page 8

9 Credit Learning Center The NACM Credit Learning Center (CLC) is an online learning venue, created to bring 24/7 access to educational sessions for today s busy business credit professional. What is the NACM Credit Learning Center? The Credit Learning Center brings targeted, quality education to your desktop from the name and brand you ve trusted for more than a century - NACM. Carefully selected, expert instructors present 60-minute audio/visual presentations on a wide array of topics. You choose what learning module you want to take, and when, and view it on your computer at your convenience. You may also work toward completion of a course or specialty certificate. The Learning Center will continue to expand as more modules are created and added. How Do I Make a Purchase? The purchaser and the learner should be the same person - modules are purchased by, and sold to, individuals. The purchaser s name must correspond to the user s name. Companies wishing to purchase modules on behalf of multiple users should coordinate its purchase through the NACM Education Department. You can purchase a module today, and view it at any time as your schedule permits. To learn more about the Credit Learning Center please visit and click on the links. Don t forget to take advantage of your two complimentary webinars which are included in your Full Membership Package. Those with Premium or Corporate memberships have unlimited NACM webinars/ teleconferences. To view the Event Calendar go to NACM Event Calendar Webinar: Bankruptcy for Beginners - Day 1 September pm.. PST Webinar: Bankruptcy for Beginners - Day 2 September p.m. PST Teleconference: Post Audit Trends Understanding Your Exposure to New Claim Categories September p.m. PST Teleconference: The Credit Department s Role and Responsibilities to Ensure Unclaimed Property Policy Compliance September p.m. PST Page 9

10 Honors & Awards Congratulations to Bruce Nathan, Lowenstein Sandler LLP. Bruce is the first recipient of the Credit Ambassador Award. Mr. Nathan is an active member of the National Association of Credit Management (NACM) and the American Bankruptcy Institute (ABI). Mr. Nathan speaks frequently at NACM Oregon functions; writes for NACM s Business Credit magazine; Credit Today; and other credit-oriented periodicals. (R) Brett Hanft, CBA, Amercian International Forest Products LLC, presents the Credit Ambassador Award to first-time recepient (L) Bruce Nathan. Brett Hanft, CBA, emphasized the uniqueness of the Credit Ambassador Award and Bruce s many years of professional support to the business credit profession. Thank you to all who attended our Bankruptcy Seminar on July 18,. A big thank you goes to our speaker, Bruce Nathan, for his time and expertise on the subject. Page 10

11 International Corner, by Alice Knight, RGCP We often take communication for granted and sometimes things go awry. Communication, both verbal and written, depends on so many different factors including language, social customs, voice inflection, and body language. In the U.S. we feel fortunate to speak and write a common language English. Now concentrate if it s called English why do they use a different word in England? We are owned by an Australian Parent. For years, I have diligently translated Corporate polices and procedures into American. The conversation usually starts with please translate/explain what you are saying here. We generally come to a mutual understanding after an amicable discussion. This involves language, normal work procedures, and various government regulations. Local law always trumps corporate worldwide policies particularly in the area of personnel law. They have finally included the caveat unless prohibited by local law at the end of most of the policies. The World of International Trade is a magnet for communication challenges. Base language, cultural norms, government policies and different time zones are just a few major areas. Misunderstandings, that are really very minor, can become major when we cease to communicate effectively. We recently had a vivid example of this. We purchased product from our parent in Australia on a door-delivered basis to our customer s customer in Guatemala. At this point we had four major players in four different countries and time zones speaking four different languages. We were informed by our customer, second hand from their customer, that they had been billed by the steamship company s office in Guatemala for detention and demurrage. This was a door move that should have been the steamship company s problem not the end customer. The claim was referred to our parent in Australia who had negotiated and booked the delivery. The steamship company in Australia told them that the customer had to provide copies of the invoices, etc., since they could not get them from Guatemala even though they were the same company! After weeks of back and forth and a very unhappy customer, one of our Latin American Spanish-speaking Traders finally called the shipping company in Guatemala directly. After some investigation we found that the Australian office and the Guatemalan office were not responding to each other because they did not speak or read the other s language. We were receiving the facts, second or even third-hand and the confusion as to why we would be billed for detention and demurrage on a door move was completely unwarranted. The containers in question had been pulled for a random Narcotics inspection and were legitimately for the end user in Guatemala. Language barriers, time zone differences, and vague assumptions all played a part in this situation. Once direct same language communication was established the problem was easily resolved. One of our employees often speaks in pronouns rather than nouns. There have been some serious misunderstanding because she meant one person and the hearers thought she meant someone else. This type of miscommunication can occur even when speaking the same base language. Every industry develops its own slang, shorthand, and abbreviations. CIA might mean Central Intelligence Agency to some and Cash in Advance to others. This type of communication is not readily transferable across language or cultural gaps. As a trading company dealing all over the world we value direct communication skills. We have employees who speak, read, and write seven different languages in house. We also try to restrict routine written communications to our overseas offices or customers to in-house people who speak the same language. Although an or fax is usually in English they are aware of wording that is mutually understood and are able to clarify questions as they arise. Communication, both internally and externally, is vitally important. Strive to communicate in a clear understandable manner, preferably in a common language. Alice Knight is Vice President of Finance & Administration for Paper Products Marketing, Inc. Ms. Knight has more than 48 years' of experience in International Finance and is an active member of ICTF and NACM. She has served as Co-chair, Panel Member, and Presenter at Annual Global Conferences, and as President of ICTF Forest Products Group. Page 11

12 NACM Oregon Credit quality continued to improve in Q2 lifting index to highest point on record Small-business credit conditions strengthened in Q2, lifting the Experian/Moody s Analytics Small Business Credit Index 2.8 points to Fiscal drag has been less severe than expected; consumer spending growth is modest but relatively steady despite heavier tax burdens; and sequestration is not yet noticeable affecting jobs recovery. Consumer confidence is perched at multiyear highs, a reassuring signal that consumer spending is unlikely to backtrack in the near term. Much of this stems from the long-awaited housing market recovery and, to a lesser extent, stock prices that are significantly higher than they were a year ago. Drilling down into regional data reveals an uneven small-business recovery. As has been the case since the recession ended, small companies west of the Mississippi are faring noticeable better than their Eastern counterparts. Weakness in Europe has subdued exports, and a dearth of new factory orders has crimped manufacturing output and job growth along the Eastern Seaboard. Some of this weakness spilled into services, holding back broader job gains, thereby hampering consumer recovery. The Eurozone is once again growing, but it will take time for an upswing in manufacturing to ripple through to small businesses in the East. Housing also has been a major player in the relative weakness of small-business balance sheets in the East. exports to Canada, Mexico, and Asia. This has created high-paying jobs in many industries, ranging from manufacturing and mining to downstream industries, including business and professional services. The associated income growth is fueling consumer spending, bolstering small businesses bottom lines. Job growth in skilled professions is leading to robust population expansion, particularly in the Mountain West, which in turn is strengthening real-estate markets in many major western metros and suppporting services growth. The slowdown in economic growth in Asia and a weaker yen due to easier monetary policy have weighed on exports from the western United States lately, but this will be short-lived. Growth in Asia, particulary China, will pick up again as the U.S. and European recoveries strengthen. Notwithstanding the relatively upbeat Q2 report, small firms still will face some headwinds during the latter half of. Yes, the consumer confidence index is trending at the upper bound of its recovery range. However, consumer sentiment still is consistent with year-over-year real consumer spending growth of a little more than 2 percent well below the average of more than 3 percent from 2002 to Further improvements in small-business credit quality will continue in coming quarters but at a modest pace until in To receive the full report click here. By contrast, Western states have benefited from technology and energy New Yorker Collection Richard Cline. All Rights Reserved. Page 12

13 Three Key Credit Fraud Threats and Preventive Steps A fraud study conducted in conjunction with Lexis- Nexis and Javelin Strategy & Research reported that the true cost of fraud to victim merchants is rising, as are the types and sophisticated nature of the scams. The study noted that the true cost to a business in 2012 exceeded $2.70 for every $1 of fraud, which is up 40 cents from the previous year. Within that framework, fraud prevention should continue to be of paramount concern to credit departments. The following are among helpful steps to prevent getting burned for a big-dollar loss: International Dangers Selling internationally is becoming more of a necessity as domestic demand is no longer enough to sustain many industries. However, LexisNexis and Javelin Strategy & Research noted that companies conducting international business are targeted five times more often than those that stay domestic. The success rate is four times higher as well. The FBI notes that external fraud attempts often come in the form of individuals posing as a potential customers or investors as a means to gain access to technical information that could compromise a company, and warns that weak online security is tantamount to an invitation to hackers. Making a commitment to better online security is helpful and necessary, as is being generally more cautious with international contacts. Also of note is that the majority of fraudulent attempts originate from several areas of the world, led by West Africa and former members of the Soviet Union in Eastern Europe. Evolution Fraud schemes constantly evolve and are often much more complex than the from a Nigerian prince pleading to transfer money into your account, which he would then share with you. In reality, many fraudsters have gotten significantly more proficient at avoiding prior red flags like poor language syntax in correspondence for attempts originating outside U.S. borders. Additionally, many have moved away from using addresses unrelated to specific businesses com because of increased awareness that they are red flags. Newer schemes involve the shipment of orders. Fraudsters use addresses that are hard to confirm as legitimate, such as near expansive government complexes, or where there is the possibility for more confusion or low security, such as college campuses where it s easy to intercept a package mistakenly delivered to the wrong department. One key combat strategy, aside from the usual need to be diligent, is ensuring the credit and sales staff is educated and trained on a recurring basis so they are up to date on the trends, and therefore more likely to detect a scheme. Don t Be Fooled by a Good Website If investigating an order from a company that is changing activity drastically, or becoming active after a long dormant period, don t be convinced by a professional-looking website. Source code copying is becoming increasingly prevalent. Present-day fraudsters readily copy legitimate business website coding and use it to set up a visually identical website to give the appearance of legitimacy. One telltale difference might be in the URL, which may use.us instead of.com. In addition, checking out the security and encryption software a site uses, as well as the incorporation date of the customer, are helpful ways to establish whether the customer s website really is legit. Republished with permission from NACM National. Page 13

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