Just because you're at work doesn't mean you're safe from Internet fraud. In fact, employees need to be even more aware.
In a scheme dubbed CEO Fraud, for example, scammers spy on a company to familiarise themselves with its internal processes, explains the Federal Association of German Banks in Berlin. Then, by referring to specific transactions or planned investments, for instance, the scammers are then able to make the payment orders appear genuine.
There have also been so-called Mandate Fraud attacks, in which the correct bank details of the recipient were replaced with those of the offender. Sending an e-mail that allegedly contains new bank details of a business partner is one of the methods used in this scam.
Even experienced employees have been known to fall for such mock payment orders.
That's why it's important for employees to thoroughly check unusual payment orders for money transfers. In unclear cases, it may be advisable to ask your supervisor and have the order confirmed.
As soon as it's clear that an incorrect payment has been made, the respective bank must be informed as soon as possible.
If the funds haven't been credited to the beneficiary's account yet, it may still be possible to cancel the payment. — dpa