International fraudsters are targeting businesses in the Cayman Islands through fake emails – often from known and previously used email addresses.
According to a police press release, the level of sophistication in what is called business email compromise, or BEC fraud, is increasing.
This fraud involves the use of emails claiming to come from legitimate businesses and individuals.
They may explain that the suppliers are changing their bank accounts from one Cayman-based bank to another and future invoices should be settled through the new bank account.
“We are asking that anybody who receives such emails, takes the time to telephone the known supplier and double check that the email is genuine,” the press release said.
Individual and business email accounts are being hacked into and the fraudsters are sending emails on behalf of them that are not genuine.
“Care should especially be taken when clicking on links and attachments, even from seemingly known sources,” the press release added.
“We are asking that everyone tightens up their security around their email accounts and set up multi-factor authentication where possible.”
Police reminded that if an online identity asks to deposit money into a person’s bank account and they then transfer the money overseas, they may be committing an offence.
Anyone may have fallen victim to BEC frauds should notify their bank immediately and make a report to police by calling 649-8797 or emailing [email protected].
SMS campaign
In a second warning, the police Cyber Crime Unit said a phishing email and SMS campaign is circulating in the Cayman Islands claiming to be from UPS.
The messages appear legitimate, seeking clarification of shipping address details with a link that opens to a web portal made to look like UPS, a police press release said.
“If you receive an email or SMS text message from UPS please check via telephone or other means if it is legitimate before clicking any links or replying to any email you did not expect.
“And never provide any personal, banking or password details,” the press release said.
Further advice is available at www.exploregov.ky/cybersafe.
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