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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