LONDON, ON (November 7, 2017) – London police are notifying businesses about a new type of email scam that has made its way to the city. At least two reports have been received in regards to what is known as the Business Email Compromise (BEC) Scam or Chief Executive Officer (CEO) scam.
In this scam, an email is sent to the accountant or office manager, seemingly from the chief executive officer (CEO) or chief financial officer (CFO) of the business, requesting money to be e-transferred or deposited into an account to pay a bill. The request is usually of an urgent nature, and limited details are provided to the receiver.
Upon further inspection of the email, it is discovered that the email address is slightly different than the executive’s real email or that the email account of the CEO or CFO had been successfully hacked.
Businesses are encouraged to be mindful of the information included on corporate websites, in particular, the email addresses of the CEO and accountants. It is also suggested that email requests for payments or e-transfers should either be avoided or that a phone or text verification be required.
Upgrading computer security policies to include multi-factor authentication can assist in securing the communication network amongst employees. Employee education on both phishing emails and email spoofing can also assist in stopping these types of scams.
Anyone with information in relation to incidents of this nature is asked to call the London Police Service at (519) 661-5670 or Crime Stoppers at 1-800-222-TIPS (8477). Information can also be sent in on-line anonymously to www.londoncrimestoppers.com