Organizations often use email to send their employees invoices that they need to pay.
Now, cybercriminals are taking advantage of this process by using fraudulent funds transfer (FFT) scams. In FFT scams, cybercriminals try to manipulate you into transferring your organization’s funds to their bank accounts.
To start an FFT scam, cybercriminals use social engineering to steal an email account from your organization. Then, they use this account to send you an email pretending to be an executive from your organization. This email lists bank account information and states that you need to send a payment to the bank account as soon as possible. If you send this payment, you won’t be paying an important invoice for your organization. Instead, you’ll be sending your organization’s money directly to cybercriminals.
Follow the tips below to stay safe from similar scams:
Content provided by KnowBe4