FBI officials warned of a dramatic rise in business email compromises, in which perpetrators target internal employees with access to financial or sensitive employee data by impersonating executives, trusted individuals or vendors.
The schemers go to great lengths to spoof company email and often use social engineering to assume their fake identities.
"They research employees who manage money and use language specific to the company they are targeting, then they request a wire fraud transfer using dollar amounts that lend legitimacy," the alert said.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
