Tips on Fraud Prevention During the Holidays
Fraud, especially phishing texts and fake emails increases dramatically during the holidays. This is the result of a new McAfee study. A phishing email is designed to look like it was sent by a legitimate company or, as we reported in the October newsletter under Cybercriminals BEC* and Voice Imitation, by a fake CFO or CEO asking for a payment or special transfer. See Forbes’ article with detailed results of the McAfee study and posted these fraud prevention tips.
When we travel or are at home during the Holidays and pick up emails on our smart phones, we tend to pay less attention than we do at work. Therefore, be aware of the increased risk of misinterpretation!
Tips from Martin Schneider specifically for controllers and anyone authorized to make payments:
- Be extra vigilant if odd text emails from the CFO or CEO ask for a payment for any reason
- Avoid single payments via e-banking and give preference to file payments via the ERP accounting system, where most of the suppliers’ address and bank details are stored
- Check with employees (possibly also on holidays) when you spot unusual transactions
- Make additional arrangements to contact employees and colleagues and exchange information
Happy holidays! We are happy to work for you in Cash and Risk Management.
If you have any questions, please Contact Martin via email or call +41 44 814 2001.
Schöne Adventszeit, Seasons Greetings
Martin Schneider
www.tomato.ch
