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Cyber Risks · Krebs on Security

IRS: Scam Blends CEO Fraud, W-2 Phishing

Summary: The IRS issued an urgent alert that scammers are combining CEO fraud with W-2 phishing, spoofing executives to request employee tax forms and then following up with a second 'executive' email asking payroll or the comptroller to wire funds to a specified account. The agency said phishers started earlier than in past tax years and are targeting a wider range of organizations, including school districts, healthcare organizations, chain restaurants, temporary staffing agencies, tribal organizations and nonprofits, while the FBI estimated in June 2016 that wire fraud schemes had stolen nearly $3.1 billion from more than 22,000 victims.

Bottom line: The same impersonation that gets an attacker your employees' W-2s now routinely gets a wire transfer request attached, and the IRS reports some companies have lost both the tax forms and thousands of dollars; the FBI's $3.1 billion figure across 22,000 victims shows how much is at stake when a single spoofed email clears your payroll and treasury controls.

Read the original at Krebs on Security ↗

Topics
Fraud & Scams
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