There is an email scam that is happening now and, as your risk adviser, HMS wants to alert you to this growing issue.
Here’s how the scam works: Cybercriminals use various spoofing techniques to disguise an email to make it appear as if it is from one of your customers, vendors, suppliers or subcontractors, advising you of a change in banking information and to send payment via ACH to a different bank. In some cases an invoice is attached to the email.
The best defense is to verify the request via telephone call to a known representative prior to making any payment. Employee awareness through education and training is essential, so please share this information with your staff and be sure to have a verification of payment request procedure in place for all wire transfers/ACH payments.
Please feel free to call your HMS representative to discuss this further and provide you with an insurance quote, if you have not already purchased this coverage.