Courtesy of Atiba
The FBI, Financial Services Information Sharing & Analysis Center (FS-ISAC) and U.S. Secret Service have issued an important fraud alert.
U.S. businesses continue to fall victim to an increasingly common scheme, originally reported this past summer. This scheme is a type of payment fraud, using legitimate business email accounts for the purpose of conducting unauthorized wire transfers. If you have been contacted to conduct a wire transfer, extra measures are advisable to ensure this is a legitimate and authorized request.
The FBI encourages incorporating the following measures to protect your company:
- Verify any change in payment instructions to vendors or suppliers by calling or verbally confirming the request (do not verify validity via email).
- Maintain a file (preferably in a non-electronic format) of vendor/supplier contact information and authorized contacts.
- Limit the number of employees who have authority to approve wire transfers.
- View the complete risk mitigation list here.
For more details on this potential risk and what to do if you are impacted, see the official FBI warning alert.
If you are directly impacted or experience any security or service issues, please feel free to call us at 615-353-1921, extension 1.
