Inside LADA

March 22, 2019: Businesses Should Beware of Emails Compromising Accounts

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A dutiful employee may be duped into making false payments that can hurt a business’s bottom line.

In the Business Email Compromise Scam, a con artist sends an employee an urgent email that appears to be from the company’s owner or a manager. The email directs the employee to immediately pay a client through a wire transfer or other means. Instead, the money ends up in the fraudster’s account.

Criminals use similar tactics to get information they can use to access a company’s email system and send fake invoices to the business’s clients.

TIPS:

  • Closely review payment requests.
  • Ensure email and web addresses are real.
  • Independently confirm wire transfer and other payment details with all parties involved.

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