TruStage RISK Alert: Vendor Impersonation Fraud
In a scam closely related to the business email compromise (BEC) or fraudulent instruction scam, fraudsters are impersonating vendors/suppliers used by credit unions.
Credit unions receive a spoofed email — appearing to come from the vendor/supplier — with updated banking information for paying invoices by ACH or wire. The fraudulent emails do not request payment from credit unions. As legitimate invoices are received from the actual vendors/suppliers, credit unions remit payment by ACH or wire using the updated, fraudulent banking information allowing the fraudsters to intercept payments.
To read the full alert and risk mitigation tips, go to: Trustage.com (Password and log-in required)
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