Business Executive Spam Spoofs Scammer

Protecting Your Data: How Scammers Can Steal Your Information

Sep 5, 2023

In the digital age, data security is of paramount importance, as cybercriminals continue to devise cunning ways to pilfer your valuable information. Let’s delve into some common methods that these crafty thieves employ:

  1. Business Executive Spoofs
    • Gift Card Variation: Scammers often target businesses by impersonating high-ranking executives, like owners or presidents. They send deceptive emails to employees, claiming that the executive needs assistance purchasing gift cards for employee rewards or birthdays.
    • Wire Transfer Variation: In this scenario, scammers send urgent emails instructing employees to make substantial wire transfers, often exceeding $100,000, to foreign accounts.
  2. Financial Industry Client Spoof
    • Scammers target financial institutions and professionals by crafting emails that mimic existing clients. These emails demand immediate wire transfers, frequently to foreign bank accounts.
  3. Head Office Spoof
    • Fraudsters pose as representatives from a company’s head office, contacting franchise businesses with fabricated issues concerning financial products like gift cards or money transfer services. They coerce employees into selecting and activating prepaid cards, as well as conducting dubious money transfers.
  4. Payroll Spoof
    • Scammers send emails that appear to originate from actual employees, requesting alterations to direct deposit information. Unsuspecting companies then deposit salaries into fraudulent accounts.
  5. Supplier/Contractor Swindle
    • Targeting businesses in existing partnerships with suppliers, wholesalers, or contractors, scammers send spoofed emails announcing changes to payment details. They furnish new banking information and request future payments to the purported “new” account.
  6. Landlord Spoof
    • An emerging scam involves fraudsters masquerading as landlords. Tenants receive emails instructing them to make rent payments through e-transfer or alternative methods, deviating from their usual arrangements. Scammers provide various excuses for this change.

Stay Vigilant!

Remember that spear phishing scams rely on deceitful emails that impersonate trusted sources. Always exercise caution and verify suspicious messages:

  • Double-Check Contacts: If an email seems out of the ordinary, verify the sender’s email or contact information through your company’s directory before taking any action.
  • Question Unusual Requests: Be wary of emails with unusual requests, especially those requesting financial transactions or sensitive information.

By staying alert and cautious, you can protect your data and prevent falling victim to these insidious scams.

Contact us today at 905-892-4000 to discuss your specific requirements and find out how we can help keep your business safe from the latest cyber threats.

Cybersecurity Services near you. We are local! Hamilton, Halton, and Niagara.

We are local! We provide trusted services to businesses and organizations across Hamilton, Halton, and Niagara – regardless of size! Our local expertise is here for you. We provide computer tech support and cyber security service in the following cities. Reach out here for a quick Chat to see if we are a good fit for each other.

  • Wainfleet, ON
  • West Lincoln, ON
  • Smithville, ON
  • Fort Erie, ON
  • Thorold, ON
  • Niagara-on-the-Lake, ON

Related News