Scammers preying on Michigan cannabis companies, regulator warns

Michigan’s cannabis agency that is regulatory warning local cannabis companies that fraudsters are masquerading as regulators and industry executives in a bid to trick employees into sending money or security information about their businesses.

One business lost more than $100,000 because of the scam, the Michigan Marijuana Regulatory Agency (MRA) noted in a bulletin.

In That case, an individual impersonating a continuing business owner requested the employee to transfer the funds to an associate, according to the bulletin.

Law360.com first reported the news.

According to your MRA, a few companies have actually reported getting such telephone calls, however it is uncertain if any other people suffered losings or released information that is sensitive of the scam.

The scammers pretended to be business owners or managers and contacted assistant mangers or other employees about an inspection that is upcoming asked for pictures regarding the security alarm, fire alarms, cannabis items, monitoring figures and exit doorways.

According to your MRA’s bulletin, “in each call or text, the suspect disclosed business people’ names or supervisors’ names and relayed relevant information regarding business, hence gaining the trust regarding the workers.”

The MRA suggested companies to be sure they verify the identification of callers before releasing funds or company that is important.

The agency additionally stated companies can validate the legitimacy of MRA staff by asking for qualifications or writing to [email protected].

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