Beware: Scammers are impersonating your boss!

Have you ever received an urgent text message or email from your boss that required immediate attention? Most people have, which is why fraudsters are posing as your boss to steal money or sensitive information about you or your company.

What is a boss impersonation scam?

The scam begins with a simple text message, claiming to be from your boss. It might read: “Hi Alex, it’s [your boss’ name]. I’m in a meeting. Let me know when you receive this text.”

Once you acknowledge that you’ve received the text, your “boss” will make a request. You might be asked to wire funds, purchase gift cards, or provide sensitive information, and there may be a sense of urgency. If you complete the task, you’ll be delivering the requested money, gift cards, or sensitive information directly to the fraudster posing as your boss!

Imposter scams are among the most devious and costly cybercrimes because they come in many forms and impersonating people and businesses is becoming easier and more convincing with evolving AI technology. Click here to learn about other types of imposter scams and how to prevent them.

How to stop the scam

• Watch out for unsolicited text messages or emails. Save phone numbers for your boss or manager and be cautious about responding to any number outside of your contact list. Don’t respond to messages you aren’t sure about.
• Beware of urgent or unusual requests. If your boss hasn’t asked you to wire money or purchase gift cards in the past, pause before acting on the request. Scammers can also clone your boss’ phone number which adds an extra layer of complexity.
• Verify the request. If you’re not sure about it, trust your gut! Rather than responding to the message or carrying out the request, try to verify it. Call your boss on their direct line or confirm the request with them in person.
• Block it. If you believe you’ve been contacted by a scammer, don’t reply to the message. Instead, block the number and delete the message. Responding to the message tells the scammer that your number is active and will leave you susceptible to future attacks.

bankHometown is looking out for you and your business.

We’re committed to keeping you informed about the latest scams and ways to protect you and your business from fraud. For more information on how we can support your business, visit our Prevent Fraud webpage, stop by your nearest office, or call Customer Care at 888.307.5887. And, for valuable tips on fraud prevention, download our free brochure, Best Practices for Preventing Business Fraud.