Cyber attacks and email fraud are becoming more common than anyone would like to see. Locally we have been advised of several cases where documents have been intercepted and fraudulently altered. The scammer has replaced the bank details with their own in the hope that the recipient won't notice the minor adjustment and pay into their account.
These emails are convincing, complete with conversations, copies of business signatures and signed off by a contact that you are familiar with. Home buyers appear to be a common target for email fraud where the scammers are trying to obtain the property deposit to be paid to them rather than your lawyer.
We all know about it, hear it in the media and consider our 'eyes open' when going about our business but these scammers are very convincing even following on from previous conversations that you have had prior to the inception. The follow up also comes across as very professional and appears to be in line with your usual business dealings.
There is a multitude of information out there telling you what to watch for and how to spot an email scam. We recommend that before making a new payment online you give the recipient a quick call to confirm their bank details, especially when making online transfers of large sums of money. Be sure to contact them using their normal contact details and not those found in the email just in case these have been altered too.
Cyber Insurance is up and coming in the New Zealand market to protect both individuals and businesses. We have a range of Cyber Insurance policies that range from household to commercial level and start from as little as $120 for a basic individual policy. If you would like to discuss Cyber Insurance for you as an individual, your family or your business please get in touch with us.