By Steve Browne
Valley City Times-Record

When Dacotah Bank received a request for a wire transfer abroad on Wednesday, something didn't feel right about it, although the documentation included a correct bank account number and  appropriate signatures.
The fax requested a transfer of more than $36,000, with authentic-looking cents value at the end, from Grotberg Electric in Valley City, to an account in Moscow, Russia.
The request came with a cover letter which had an official-looking letterhead, the company's account number, and what appeared to be the signatures of company president Wyatt Zaun and operations officer Steve Welken at the bottom of the page.
Dacotah Bank contacted Zaun and Welken, who told them it was bogus.
The signatures looked like theirs, the account number was theirs, but the letterhead wasn't the same, according to Welken.
A wire transfer is different from other kinds of bank transfer, Welken said. Once sent, it's gone, and can't be retrieved.
Welken speculated the signatures and account number might have been obtained from a credit application, or photocopied off a project contract the scammers obtained.
Paige Bjornson, vice-president of Dacotah Bank issued a statement, warning the public about similar scams:
“A fraudulent wire transfer request was received by facsimile at Dacotah Bank on Wednesday, 12-17-2008. The request appeared to be from a business customer, containing various pieces of information including the customer’s business name, address, phone and fax numbers, bank account number, and what appeared to be authentic fax copies of authorized signatures. The request was for a transfer of money overseas.  Bank personnel reviewed the information, and per bank policy called to verify the wire request with the account holder. The fraudulent nature of the request was discovered and no loss occurred. To avoid becoming a victim of fraud, Dacotah Bank encourages frequent review of bank accounts and credit card statements, and steadfast awareness in protecting personal and business financial information.”
Welken credits Dacotah Bank for knowing their customers.
“Dacotah Bank knew it wasn't something we'd normally do,” he said. “If you worked in Minneapolis and worked with a large banking institution, would they have caught it?”