The team at Handle It have become aware of an increase in email fraud. We want to caution you to be extra vigilant with emails asking you to update your banking information or requesting sensitive information.
The scenario is playing out as follows: an email account is hacked - it could be yours or your clients. The hacker is able to get into your system and see who your clients are, what invoices have been sent out - it is not clear whether they are also accessing the accounting software or just able to see what invoices you have emailed. They then send an email to the recipient of the invoice, advising them of a change to the banking information and ask them to transfer the payment for the invoice to the new account.
This type of fraud can go unnoticed for quite some time. In one instance we are aware of, it went unnoticed for more than eight weeks. We are aware of more than $60,000 of payments being directed to the fraudulent accounts.
Please be vigilant and check any email requests for change of payment by phone with the person requesting the update.
As a client of Handle It, you can be assured we take the security of your information seriously. For more information on how to recognize and avoid fraud visit the Federal Trade Commision article HERE.