Scammers hack into the email systems of the target company or its business partners
What is business email compromise?
Scammers hack into the email systems of the target company or its business partners and spy on their business email exchanges. Scammers then pose as senior management of the company or its business partners and ask the company’s employees through emails to transfer money to the scammer’s account.
How scammers deceive
Disguising as partners
Scammers pose as the victimised company’s business partners or suppliers, requesting money to be transferred to a ‘new account’
Disguising as senior management
Scammers pose as a member of the senior management, instructing their employees to transfer money to accounts with unknown origins
How to spot phishing emails?
Fraudsters use an email address whose domain has an extreme likeness to the legitimate one
Check the email header to see the genuine “mail from” and “reply to” addresses to tell the true from the false emails
Scam Prevention Tips
Be cautious when you receive transfer requests with unexpected changes
Verify the identities of the recipients before transferring money to new accounts
Disseminate the above messages to employees / business partners
If in doubt, input phone numbers, social media account names, etc, in Scameter to assess risk, or call 18222 for enquiries
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