Important Service Disruption:
NBT Bank has recently noticed an increase in a type of fraud referred to as Business Email Compromise (BEC). This occurs when fraudsters fool an employee into submitting a wire transfer by posing as a supplier, vendor, or business partner. In a new variation of BEC, fraudsters are using spear phishing attempts. Spear phishing refers to targeted emails going to a specific department or line of business. For example, the accounting and finance department or payroll.
The email contains a link to what looks like an encrypted file. When clicked, the user is prompted for their username and password on a fake login screen. With this information, fraudsters can sort through their emails for invoices, communications with banks, or other important financial information. They also use this information to make rules in the user’s inbox to automatically forward emails for real time information. Most recently, there has been an increase in attacks toward healthcare, professional services, higher education and real estate closing companies.
If you have any questions, please contact NBT Bank Cash Management Support at 800-NBT-Bank (628-2265), option 8.