It’s a normal day in your business’s payroll department when an email comes in posing as an employee. The email asks to have payroll switched to a new account. The payroll is switched with no questions asked and everything seems OK. Fast forward two weeks when the direct deposit hits. The employee calls asking why their payroll deposit was never made. Turns out, they never requested a changed in their direct deposit, and the fraudsters have been paid instead.
To avoid falling victim to this scam like this, look for these red flags:
- The email contains a sense of urgency, asking that the request be completed immediately.
- The email is coming from an address that isn’t on file for the employee.
- There are multiple grammatical errors and spelling mistakes throughout the email.
- When speaking with the employee directly, they claim to never have requested this change.
In order to avoid being a victim, set up extra verification steps when employees request a change in their payroll. If your company requires a signed form, compare signatures with what you have on file. If you receive an email that seems suspicious, contact the employee directly via a known phone number.
At NBT Bank, we take steps to monitor and protect all our customer’s account. If you believe you’ve been the victim of this scam, contact your local branch or call 1-800-NBT-BANK. Customer service representatives are available Monday through Friday from 7:00 a.m. to 7:00 p.m. and Saturday from 9:00 a.m. to 12:00 p.m.