To help people better understand the many types of scams that our detectives investigate, we came up with a list of scam terms with definitions and examples. Spear Phishing is very common and targeted to make the victim believe they are communicating with someone they know and trust. This commonly occurs in the workplace.
Scams This Week 9/27/22
September 27, 2022
Business Email Compromise: According to the latest FBI statistics the BEC is one of the highest losses for 2021. In these cases, the recipient or business unknowingly had their email compromised. The scammers sit in wait, obtaining information until they either use the compromised e-mail or generate an email that is one letter or digit off to send a request. As an example, Johndoe@example.com is changed to Johnndoe@example.com. This is a targeted attack on a company and or an individual and can be carried out in several different iterations.
- Employee: An email from the employee to the payroll department to provide a different bank account for payroll. If bookkeeping does not confirm via phone or in person then the next expected payroll goes to a scammer.
- Vendor: An email from a vendor or posing as a vendor that your company usually deals with an invoice and updated bank account to receive payment.
- Customer: Commonly used at Title Companies and Realtors. Around the time a customer is set to put their down payment on their new home an email comes from the title company explaining that they were able to get a better rate if you act now and make the down payment to a new bank account. Due to the urgency, the customer wires the funds to the scammer's account.
- CEO: The scammer is posing as the CEO or who has taken over the CEO’s email. They email an employee for assistance, to take money from the till and purchase gift cards, or use their own funds to purchase gift cards for a meeting or employee bonuses. The employee believes they are doing a favor for the boss and will be paid back.
Communication is the key to all of these. No funds or accounts should ever be changed without first making contact either in person or on the phone. Payroll needs to talk to the known vendor to confirm any updates or the employee to confirm any change. Homebuyers should never send money to a new account without confirming with their title company and realtor. Employees need to confirm with their CEO, boss, or the employee before taking any money from the company or spending their own. If it involves gift cards or virtual currency it is a scam.