Businesses Being Victimized by Advanced Email Invoice Phishing Attacks

Fraud and embezzlement risk in the post-COVID business world are drivers of default risk exposure that lenders and investors cannot be expected to tolerate. Capital preservation is more important than ever.

Email Phishing Schemes Focused on Your Employees & Business Operating Characteristics

As if replacement invoice email phishing attacks are not bad enough, the recent wave of advanced invoice fraud attacks no longer seek to send out a million fake emails and hope to ensnare a few unlucky companies to make their score. The new wave of fraud is based upon careful research of your organizational structure, payment practices and people. The end-game is getting your people on the telephone to approve the phony invoice because the scam is based on the criminal’s knowledge of your company, your vendors, your people and how you operate. This fraud is racking up more than $300 million a month, making it quite a profitable and dangerous scam. To make matters worse, the capital markets know this risk can directly impact default risk exposure and that means companies seeking capital that have this exposure are less likely to obtain capital financing.

Are you exposed? Have you already been taken and not even realized it?

The sad news is that this just doesn’t have to happen and (less than) an ounce of prevention is worth hundreds of pounds of the cure. Mitigation is not going to be an effective strategy; holding someone responsible after your company has already lost money it cannot likely get back is cold comfort at best.

How about preventing it from having any chance of happening in the first place?

There is a whole lot more that you can do and protect your organization, career, capital and reputation all at the same time. You just have to want to end the nightmare or prevent it from happening again.

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