Fraudsters no longer need access to your bank accounts in order to steal money. By hacking into your email, scammers can intercept invoices, changing the payment details of individuals and businesses.
They then troll and monitor your email account for an opportunity to intercept an invoice. For example, when you are purchasing goods and awaiting an invoice on email, or if your business is sending an invoice by email.
The scammers intercept an email, change the bank details on the invoice and send it on for payment. In many cases, they use spoofing to make the email address seem credible and trustworthy. Spoofing changes a letter or domain in the email address to make it appear legitimate.
The recipient pays the invoice thinking it comes from a legitimate source, when in fact the money is paid into the scammer’s account.
How to stay safe: Password Rules.
Stop & Think: Take Five To Stop Fraud.