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Jewelersalert.com Warns Trade About Diamond Brokers International

Company requests bank wire transactions to access jewelers' accounts.
Nov 10, 2009 6:23 AM   By Press Release
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RAPAPORT... Press Release: A single message board post by a member of Jewelers Alert has caught the attention of many diamond wholesalers. More than 20 companies have come forward to report the actions of the company in question.

"So far, this is what we know," said Zev Oster, the president of Jewelersalert.com. "A company by the name of Diamond Brokers International (D.B.I.) has been calling diamond wholesalers requesting to buy diamonds and offering to pay by bank wire, claiming the amount is small and there is no need for credit references. They then request that you fax your bank information for the bank transfer, thus exposing your bank details, such as account name, routing number and bank account number.

"While there have not been any reports of monies taken from these accounts, many feel their accounts have been compromised and have called their banks to monitor their accounts. What they do with this information we don't know,"  Oster added. "No diamond dealers have received any funds via bank wire from Diamond Brokers International, so we have no clue why they want our bank information."

Trade members are encouraged to read and share information regarding this scam by signing up for a free account at www.Jewelersalert.com.

About Jewelers alert
Jewelers alert is a live discussion board for diamond dealers and wholesalers to share information on potential scams and non-payers. As a first line of defense, Jewelersalert.com has saved our members thousands of dollars and many headaches.

Jewelers Protecting Jewelers™

Rapaport News is not responsible for, and does not endorse, the content of any press release. Press releases are not written by us and are provided only as additional information for our clients.

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