Small Business Scam Continues to Grow

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Apr 03, 2017

Over the last year, at least 55 companies reported they had fallen victim to a new type of specialized phishing scheme. The scheme involves a criminal masquerading as a real employee, often a key executive, and then duping unwitting employees to provide a payment or secure files. The criminals do this by sending an email requesting lists of employee W-2s or asking the employee to wire funds to a fake vendor. Sometimes the sender claims to be an IRS agent who requests personal information or demands immediate payment of a nonexistent tax bill.

Do not let your company be the next to fall prey to this scam. Whenever confidential information is requested, employees should take a moment to ask members of the human resources or payroll department if they know about the request. Employees who receive an email request should call the executive to confirm he or she sent the email. Remind employees that the IRS never initiates contact regarding a tax issue by email or phone call. This scam can take many forms, so your best defense is awareness – let your team know what to look for and what to do if they receive any fraudulent emails.

Tags: Business