Scam Alert: Business Email Scams

How To Protect Your Business from Scams

Business Email Compromise (BEC) is a sophisticated scam targeting businesses that regularly perform wire transfer payments or work with foreign suppliers.

In a BEC scam, criminals send an email message that appears to come from a known source making a legitimate request.

Emails requesting a change in your payment method (from check to wire, or vice versa) or to send funds to a different account should raise a red flag. Fraudsters often spoof email or text requests with slight variations in addresses to fool victims into think the fake account is legitimate. Contact your vendor directly to confirm the change request. 

It is important to closely examine your emails and question anything that may seem unusual. Here are a few ways to protect your business from BEC scams:

• Don’t click a link or open an attachment in an unsolicited email or text message. This could contain malicious software meant to gather confidential information from your device.
• Carefully examine the email address, URL and spelling used in any correspondence. Scammers use slight differences to trick your eye and gain your trust.
• Use two-factor (or multi-factor) authentication on any account that allows it.
• Verify payment, purchase and account verification requests by looking up the company’s phone number on your own (not using the one provided in the communication) and calling to ask if the request is legitimate.
• Be especially wary if the requestor is pressing you to act quickly.

If you suspect you’ve been a victim of a BEC scam, contact your financial institution immediately. Next, contact your local FBI field office and file a complaint with the FBI’s Internet Crime Complaint Center.