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Businesses are warned about tax scammers

Posted on Mar 2, 2017

With tax season in full swing, the South Carolina Department of Consumer Affairs (SCDCA) is warning businesses to be on the lookout for fake email requests by individuals posing as their CEO and other executives.
According to the Federal Trade Commission1 and the FBI2, more than 17,000 businesses and non-profits have sustained $2.3 billion in losses through fraudulent wire transfers since October 2013. After identifying a victim within the company, fraudsters spoof, or fake, an email to the employee who has access to sensitive employee information, like W-2s or can pay invoices on the companyís behalf. The email looks like itís coming from the CEO or another executive.
These tips can help you guard your company against CEO imposter scams:
Be wary of e-mail requests for personal, financial or other sensitive information and take time to verify the request in person or via telephone.
Remember Ė email is not a safe way to send sensitive information. Donít transmit account information or sensitive employee information by unsecured email.
Establish a multi-person approval process for transactions above a certain amount and sensitive information requests.
Train your staff on information security policies and how to spot the latest email scams.


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