Accountants and office managers are being told to be on the lookout for fraudsters posing as their company's top brass seeking money transfers.
London police have received at least two reports of a fraud dubbed the Business Email Compromise scam or Chief Executive Officer scam.
Posing as the chief executive officer or chief financial officer of the business, the fraudster sends an email to the accountant or office manager requesting money be e-transferred or deposited into an account to pay a bill. The email usually indicates an urgent need for the money transfer to be completed, with few other details.
According to police, the email address tends to closely match that of the company's executive, but will have slight differences.
Police are encouraging local businesses to be mindful of information posted to websites, in particular the email addresses of the CEO and accountants. They also suggest email requests for payment be verified by phone or text, or the practice be avoided altogether.
