ACH and Wire Fraud Prevention

Protecting Companies of all Sizes from ACH and Wire Fraud Scams

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Facts about ACH and Wire Fraud

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Business Email Compromise

Business email compromise (BEC)—also known as email account compromise (EAC)—is one of the most financially damaging online crimes. It exploits the fact that so many of us rely on email to conduct business—both personal and professional.

In a BEC scam, criminals send an email message that appears to come from a known source, making a legitimate request, like in these examples:

  • A vendor your company regularly deals with sends an invoice with an updated mailing address.
  • A supplier emails a request to update electronic wire or ACH banking payment instructions.

Versions of these scenarios happened to real victims. All the messages were fake. And in each case, thousands—or even hundreds of thousands—of dollars were sent to criminals instead.