Recently the FBI issued an alert warning that “cybercriminals are targeting the online payroll accounts of employees in a variety of industries.” Once a cybercriminal has obtained an employee’s login credentials, direct deposit information is changed and redirected to an account controlled by the cybercriminal. The FBI alert can be found here.
Nacha has previously alerted ACH participants to Payroll Impersonation Fraud in our online Fraud Prevention Booklet, as well as guidance on sound business practices. These resources are available here:
- PROTECTING AGAINST FRAUD How to spot and prevent fraud schemes
- Business Email Compromise, Vendor Impersonation Fraud, and Payments: What Organizations and Financial Institutions Need to Know
Both the FBI alert and the Nacha resources include steps to take to avoid being a victim. We encourage you to share this information with your team, your members and your customers.