“Man-in-the-email” Scams

April 17th, 2015

Businesses across the country including many in our footprint are seeing an increase in “man-in-the-email” scams. This occurs when email accounts are compromised and fraudsters impersonate a legitimate business or individual (CEO, CFO, etc.) for purposes of stealing data or committing financial fraud. Businesses are then fooled in to sending funds to accounts managed by criminals rather than their legitimate business partners. To help mitigate this, Signature verifies all significant account or transaction change requests by vendors, business partners, and customers through alternate means (calling them using the phone number we have on record), and never accepting an email alone no matter who it is from.  This is a practice in which we engage to protect our business and you and your clients’ funds and personal information.