Wire Transfer Fraud: A How-To Guide

Wire Transfer Fraud: A How-To Guide

Businesses are increasingly falling victim to wire fraud scams – sometimes referred to as “man-in-the-email” or “business email compromise” scams. Although there are multiple variants, a common situation involves an attacker gaining access to the email system of a company, or the company’s vendor, and monitoring email traffic about an upcoming transaction. When it comes time to submit an invoice or a payment, the attacker impersonates one of the parties and sends wire instructions asking that payment be sent to the attacker’s bank account. …

Wire transfer

How to Avoid or Respond to Wire Transfer Fraud (2016)

Businesses are increasingly falling victim to wire fraud scams – sometimes referred to as “man-in-the-email” or “business email compromise” scams. Although there are multiple variants, a common situation involves an attacker gaining access to the email system of a company, or the company’s vendor, and monitoring email traffic about an upcoming transaction. When it comes time to submit an invoice or a payment, the attacker impersonates one of the parties and sends wire instructions asking that payment be sent to the attacker’s bank account….

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