Spoofed/Hacked Email Scam

WHAT IS A Spoofed/Hacked Email Scam?

A scammer impersonate a victim's supplier using a similar email address. The victim will be told to transfer money to a different bank account because the supplier's regular account has been suspended or is under audit.

In another variant, scammers will hack into their victim's email account, that of the supplier's or business partner's. They will monitor the email correspondence between the two and at an opportune time, send an email to their victim to request for payment to be paid to another bank account. The spoofed email used by the scammer can closely mimic that of the original email address. 

These are some examples of spoofed email addresses:
                 

Genuine email   Spoofed email
[email protected]  [email protected] (1 replaced with a I)
[email protected]
[email protected]   (i missing)
[email protected]
[email protected] (. replaced by -)

In some cases, scammers may even use the same business logo, links to the company's website, or messaging format to trick their victims into believing that they have received a genuine request for payment.  

Victims will only come to realise that they have been scammed (often days later) when their actual suppliers call to inform them they have not received their payment.

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OF CASES REPORTED
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$

WORTH OF MONEY LOST
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  • Any sudden changes to your suppliers’ or creditors’ payment instructions and accounts. When in doubt, check directly with your suppliers
  • Do not make changes to your payment arrangements without verifying the email with your suppliers
  • Call previously known phone numbers instead of the number reflected on the email with the new payment instructions
  • Always use secured networks to reduce the

What to look out for

  • Any sudden changes to your suppliers’ or creditors’ payment instructions and accounts. When in doubt, check directly with your suppliers

How to protect yourself

  • Do not make changes to your payment arrangements without verifying the email with your suppliers
  • Call previously known phone numbers instead of the number reflected on the email with the new payment instructions
  • Always use secured networks to reduce the

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