Scam Alert: Emails Requesting Changes to Banking Information

February 19, 2024

We have recently seen an increase in companies receiving emails that appear to be from an employee requesting their banking information be changed for payroll. When you look closely, sometimes the email address is not from within the organization, although it has the employee’s name, and other times the organization email address is spoofed. If the banking information in the email is used to update the payroll system without confirming with the employee, the scammer will receive the upcoming direct deposit and not your employee.

 

We would encourage you to review your current procedure for how an employee can change their banking information. Having a 2-step verification process for email requests to ensure the employee is the person requesting the change is one way you can prevent the scam from hitting your office. The verification could be a form that is completed and submitted to payroll or a phone call to the employee to verify they requested a change.

 

- SJHL Client Accounting Services Team