Business Email Compromises
To help protect your assets, it is imperative that you assess and verify any email request to transfer funds. An email appearing to be from someone within your company or from a known vendor could be fraudulent.
An email address can be altered unnoticeably to appear to be from a company executive, authorized colleague, or business partner. Emails can include altered invoices or payment instructions intended to perpetrate fraud.
If you authorize the transfer of funds based on a fraudulent request, your company may be at risk of losing the funds.
To help protect you and your company against email fraud, we recommend the following:
- Always call the party requesting the transfer to verify payment instructions.
- Always use a phone number on file, not one provided in the request, when verifying payment instructions.
- Never confirm wiring instructions on email in case your email system has been compromised.
- Watch for changes in wiring instructions on invoices (mailed and emailed).
- Watch for slightly different email addresses, switching out or adding one letter is a successful way to make an email look legitimate. Substitution of “r” and “n” for “m” (i.e., rn) can be easily overlooked.
Should you experience fraud (e-mail or otherwise) related to a Vectra Bank account, contact us immediately to determine if funds can be recovered. Call Treasury Management Client Services at 800–341–8156, your Treasury Management Officer, or your Relationship Officer.
To learn more, please be encouraged to read the Public Service Announcement regarding Business Email Compromise published by the Federal Bureau of Investigations (FBI) on June 14, 2016. The following link is provided for your convenience: http://www.ic3.gov/media/2016/160614.aspx.