Email Phishing scam imitates financial institutions

At ABS, network and security services are just one way we help businesses avoid technology interfering with their work. Recently we have become aware of a new email phishing scam that appears to come from a financial institution and threatens businesses’ sensitive financial data.

Email phishing is an online scam where miscreants send an email that appears to come from a legitimate company and asks you to share sensitive information. We’ve written about some phishing scams in the past, including a Google Docs phishing scam and Netflix account phishing scam.

In the newest email phishing scam we’ve come across, the sender appears to be the ACH Customer Service department of a bank. The email notifies you of a recent change to your bank account and requests that you confirm or update sensitive financial data, such as your account and routing number, in order to continue services such as transfers.

If you receive an email from your financial institution, here are some red flags to look out for:

  • An unfamiliar sender domain. Many phishing attempts are “spoofed” email accounts. It could look like it came from a trusted contact, but when you dig a little bit you can see it is from some random, fake account. Even if it looks like a familiar domain, be careful.
  • A request to update or share information directly through email or an unfamiliar means of communication outside of your secure banking portal.
  • Mention of an account change that you are not aware of.

If you are ever unsure about the legitimacy of an email do not respond directly to the email. Instead always reach out to your bank through confirmed means of communication. Given what’s at stake, it’s always worth the extra time to have verbal communication when it comes to account changes or any money transaction.

Remember, anyone within your business can receive a phishing email and can be a weakness in your business security. We understand that data security is a top priority for any business. For all of its benefits, technology still poses a serious risk for businesses and their sensitive information. If you’re concerned about your businesses IT security or you’d like to learn how ABS can make sure your employees are educated on email and data security, let’s connect.