Fraud Alert Issued on Business Email Compromise Scam

The Financial Services Information Sharing and Analysis Center (FS-ISAC) and federal law enforcement agencies have released a joint alert warning companies of a sophisticated wire payment scam referred to as business email compromise (BEC). Scammers use fraudulent information to trick companies into directing financial transactions into accounts scammers control.  

Users and administrators are encouraged to review the BEC Joint Report for details and refer to the US-CERT Tip ST04-014 for information on social engineering and phishing attacks.