Business Email Compromise (BEC) is a type of scam targeting companies who conduct wire transfers and/or have suppliers abroad. Corporate or publicly available email accounts of executives or high-level employees related to finance or involved with wire transfer payments are either spoofed or compromised through key loggers or phishing attacks to do fraudulent transfers. Once funds are wired, there is little chance of recovering funds,..
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Recently, scammers are utilizing a popular online payment platform called Zelle to steal your money. The scam is a form of a phishing attack where the scammer pretends to be a bank representative alerting you of a fraudulent activity on your account. The scammer offers to stop the fraudulent activity by asking you to send yourself money with Zelle. By utilizing scare tactics and a sense of urgency, scammers get unsuspecting victims to act fast..
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As sophisticated as potential fraudsters have gotten during the internet age, swindlers have been working to separate companies from their valuables for as long as there have been companies. Much of the focus for business owners of late has been on the awareness and prevention of cyber fraud – and rightly so. But just because it doesn’t grab the headlines, doesn’t mean that other types of “good old fashioned” fraud or theft can be ignored...
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