Business email compromise scams have tripled over the last three years and have cost businesses and other organizations more than $3 billion since 2016. These scams target specific individuals with emails that direct them to send money to “new” bank accounts for trusted business leaders, partners, customers, employees, or home buyers.
Follow these BBB tips to thwart scammers:
- Use the telephone to confirm requests before acting. Most BEC fraud could probably be stopped if employees directed to send money simply called the person supposedly asking them to send money and ask them to confirm it.
- Verify changes in information about customers, employees or vendors. If an employee or vendor claims that their contact information has changed, ensure that the old contact information is no longer active by trying to reach the person using the old information.
- Train all employees in internet security.
- Require multi-factor authentication. For example, include sending a text message with a code that must be entered to log in or answering a phone call to a number designated by the user.
- Change settings so that all emails coming from outside an organization are flagged with a warning.
For more tips you can trust, visit bbb.org.
