Skip to content

View all posts

Protect Yourself from Business Email Fraud

06/01/2022

If you receive an email from a vendor saying they’ve changed banks and are requesting you start sending payments to that new bank – please stop, call and verify. Don’t send a penny until you have phoned them at the number you have on file to verify the validity of the email. Make that call - don’t respond to the email in question to confirm!

We promise this extra few minutes of your time can save you from becoming the latest victim of one of the most dangerous and costly versions of fraud we are fighting every day. Your staff could get an email that looks like it is coming from one of your vendors but may be coming from a criminal who hijacked their email account. The message may say the vendor has changed banks and payment should be remitted to a new location. If they haven’t changed banks, you may end up sending payments via ACH or wire transfer to a fraudster. When this happens, your funds are lost and you’ll still be responsible for the money owed to the vendor. 

The good news is that this type of fraud is easy to avoid when you stay alert. Whenever you receive a suspicious email, pick up the phone and call your vendor or your bank! A quick phone call can save you thousands!

To learn more about fraud protection services available to businesses, visit the Fraud Protection section of our website.