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Semiconductor Shortage Led to Record Wire Fraud Cases Faced by Desperate Buyers: Report

A recent report from ERAI concluded that in 2021, there were 101 wire fraud cases reported to the US-based firm, up from 70 in 2020. Companies looking for chips they could not find through authorised and vetted distributors were trying to buy them from shadier brokers and transferring funds for goods that never got delivered, ERAI president Mark Snider said.

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