As the CFO of your organization, you are the gatekeeper of the money. Please communicate with your IT staff and educate employees on various phishing schemes. Phishing schemes, more than anything else, often result in monetary loss.

Here are some things to keep in mind:

  1. Reassure your coworkers that you would never ask for something urgent in an email. Also reassure them that you know how to spell and use appropriate grammar, so a poorly written email is likely not from you.
  2. Require your coworkers to verbally confirm wiring instructions before sending money anywhere. This means calling a number they are familiar with or have independently researched online – not one contained in an email.
  3. Convince your coworkers that curiosity can be costly. Emails that appear to contain confidential information like salaries are usually effective bait. Work email should be protected. Don’t open something you are not expecting.
  4. Below are some examples of possible phishing emails. The software used in these examples is fictitious, but you could insert any software, especially one that seems related to a software or company familiar to your organization.
  • Get your tax refund now! Use TaxCorp to receive tax returns instantly. (Additionally, child support, fake stimulus payments, social security, etc.)
  • Email from your employer saying they are switching from direct deposit to TaxCorp and you need to sign up now to get your paycheck.
  • Email with “New Security Protocols” that increase the security of your account. Sleep better knowing that TaxCorp is constantly upgrading its security protocols to protect you. Click here (insert bad link) to view the new protocols and what they enhanced.
  • Internal company emails / CEO fraud, including: 
    1) Email from CEO to employees sharing the announcement of TaxCorp and stating we missed the deadline to register or have been put on notice by TaxCorp to complete companywide registration within in 3 days.  2) HR wants to send a gift card but Knowster needs to pay the shipping and handling fee of $1.99- please use TaxCorp app!
  • You have been invited to be part of the test group for the new TaxCorp service! Click or scan QR code.

If you have questions about how you can better protect your business from fraud, please contact our Treasury Management team at 1.888.262.9226.


About the Author:

Carolyn Haferkamp is president & chief lending officer at Central National Bank. In her spare time, she enjoys spending time with her husband and cheering on their two daughters in their activities.

By |2023-09-14T21:01:54-05:00September 14th, 2023|0 Comments

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