The Northumberland Detachment of the Ontario Provincial Police (OPP) wants to warn the public and business owners of a CEO scam that is being detected in South Western Ontario.
A local business in Norfolk County, Ontario was defrauded of more than $200,000 earlier this month after an employee fell victim to what is being known as the CEO scam.
CEO fraud is a scam in which cybercriminals hack company email accounts. They impersonate executives to try and fool an employee in the accounting or human resources departments into executing unauthorized transfers of funds, or sending out confidential tax information. It is a sophisticated scam targeting businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments. A fake invoice in most cases will be attached.
Although there have not been any reported cases in Northumberland County the OPP want to offer the following tips and encourage business owners and employees to be diligent and aware.
· Educate employees about the scam and to be skeptical about urgent or suspicious requests for payment made by email
· Encourage employees to speak with managers if something seems fishy
· When in doubt about an email, contact the person by phone before replying
· Have policies and procedures requiring more than one person to approve any fund transfers
· Be careful with what you share online; information can be used to target your company
Visit the following link to learn more this type of crime. Education is a key component when it comes to prevention. www.knowbe4.com/ceo-fraud
If you or someone you know suspect they’ve been a victim of a phishing, ransom or service scam, contact your local police service and the Canadian Anti-Fraud Centre by phone at 1-888-495-8501 or through their website.
“Recognize, Reject and Report Fraud”
Author: Pete Fisher
Has been a photojournalist for over 30-years and have been honoured to win numerous awards for photography and writing over the years. Best selling author for the book Highway of Heroes - True Patriot Love
