We have been alerted to a significant increase in Business Email Compromise (BEC) schemes targeting local businesses. Please remember: it can happen to anyone – even if you have solid information security protocols in place.
In recent instances, the email accounts of local business owners or employees AND vendors they work with are compromised. The scammers get to know you and your business by intercepting and reviewing your confidential emails. This makes the communication to you and your employees exceptionally realistic and convincing. When fraudulent requests to update account information or make a payment are received, you or your employees may think you are communicating with a regular contact when, in fact, it is a scammer.
We urge all businesses to:
- Review your internal procedures for electronic payments and for accepting updates to account and contact information.
- Remind your team to not rely on email as a primary verification tool. Ensure you have offline verification processes in place, such as calling a known contact at a verified phone number.
- Practice good password hygiene by requiring complex passwords and updating them on a frequent basis.
- Utilize multi-layer authentication for your systems and email accounts.
- Carefully vet all emails that contain links and attachments and only click if you are confident the email is authentic.
There are many tactics scammers use to compromise emails and defraud businesses. Click here to learn more about these scams from the Federal Bureau of Investigation (FBI).
We care about keeping our customers safe from online fraud. If you believe your personal information may be at risk due to a scam, please contact us immediately so that we can assist you with protecting your accounts.