Recent Business Fraud Activity

The following types of business fraud have been on the rise. As always, we encourage you to be on the lookout – and to be diligent in your verification process.

Wire Fraud

We’ve seen an increase in business wire fraud from criminals intercepting valid wire request emails and altering the payment instructions. Never wire money solely based on instructions that you receive via email. Always call the recipient at a trusted number to verify the instructions before sending funds.

Payroll Fraud

A recent trend in business fraud around the country is direct deposit fraud. Criminals hack into business email accounts, pretend to be your employee, and send updated payroll direct deposit instructions to reroute transactions. We strongly encourage you to confirm any direct deposit changes received via email with your employees by phone or in-person.