Treasurers Targeted for Phishing
Treasurers and controllers are the targets of cyber-fraud, according to the Financial Services Information Sharing and Analysis Center, receiving e-mails that contain a virus-laden attachment or a link that installs mal-ware designed to steal passwords upon opening. The scammers then conduct wire-transfer fraud in increments of less than $10,000 to avoid banks’ anti-money-laundering reporting requirements.
The best way to avoid phishing: Don’t respond to e-mail solicitations from your company’s banks. These e-mails are fraudulent, AFP’s Payments Advisory Group says. Most banks have policies that prohibit the use of e-mails to request account or user ID information. The PAG also recommends testing your colleagues by sending them “fake” phishing messages to see if they clicked on the links or forwarded the messages to security.
Read the 2009 AFP Payments Fraud Survey here.
