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Business Email Compromise is an advanced form of spear-phishing which targets employees of businesses that routinely perform wire transfer payments or work with foreign companies or suppliers. Either they will gain actual access to those individuals’ email accounts through a targeted phishing attack and wait for the perfect time to take over (such as when those employees go on vacation or leave for a business trip), or they will simply spoof the email address and change where the email is sent when it is replied to. Then, they will email an employee within an organization who may be responsible for making wire transfers or handling funds, asking them to process a transaction. When you receive any requests to transfer or wire funds:Look closely to verify the email address when you receive a wire transfer or monetary transaction request.

It’s no surprise that the bad guys are taking advantage of this confusion!Cybercriminals are using text messaging, or short message service (SMS), to pose as a government agency. If you click the link, you’ll be taken to a payment page where you can give your credit card details directly to the bad guys!This tactic is known as “Smishing” (SMS Phishing). Instead of clicking the unexpected link, open your browser and type in the official URL of the website you wish to visit. We check our numerous accounts daily and we catch bank or employee error the next day as opposed to the end of the month when the statements come in.

One scam involves cybercriminals calling you and posing as support personnel from the companies or services that your organization may be using to allow you to work remotely. Typically, the caller will try to gain your trust by stating your job title, email address, and any other information that they may have found online (or on your LinkedIn profile). We check our numerous accounts daily and we catch bank or employee error the next day as opposed to the end of the month when the statements come in. The Rynoh representatives made it easy to get signed on and set up to ensure compliance with the Best Practices requirements concerning escrow accounts.

The bad guys are preying on your fear and sending all sorts of scams related to the Coronavirus (COVID-19).Below are some examples of the types of scams you should be on the lookout for:Emails that appear to be from organizations such as the CDC (Centers for Disease Control), or the WHO (World Health Organization). Scammers often create fake charity emails after global phenomenons occur, like natural disasters, or health scares like the COVID-19.Emails that claim to have a “new” or “updated” list of cases of Coronavirus in your area. KnowBe4.com Scam of the Week: Exploiting the Coronavirus – Watch out for these scams!Rynoh has been a real life saver in making sure our accounts are reconciled every month and all the monies are credited correctly. Love it!We check our numerous accounts daily and we catch bank or employee error the next day as opposed to the end of the month when the statements come in.