FINANCIAL FRAUD TARGETING PUBLIC ENTITIES
We want to share important information on some of the financial fraud trends currently targeted at public entities in BC. Professional hackers are continually coming up with new schemes for defrauding individuals and corporations.
Some of our local government members have received legitimate looking requests for two types of fraud:
- Requests to AP to change EFT banking deposit information for large dollar value suppliers. The contact information is correct, as is the supplier logo on all of the documentation the fraudsters provide, including falsified bank cheques and banking change forms.
- Requests to Payroll and/or HR to change EFT banking deposit information for senior staff and/or Mayor and Council.
Please review your organization’s internal controls and hold communication/awareness sessions with your teams in order to avoid falling victim to one of these highly sophisticated fraud schemes.