Office workers in the UK are being warned to be on the lookout for scam emails that appear to be from their boss.
Financial Fraud Action UK (FFA UK) said small and medium-sized enterprises (SMEs) have lost £10,000-20,000 as a result of the scam.
Staff, usually in the business' financial department, receive an email masquerading as a senior manager requesting money be transferred to an account for a special reason - often to secure a contract, for instance.
The scammers use software to make the emails look more realistic.
"While an urgent request from the boss might naturally prompt a swift response, it should in fact be a warning sign of a potential scam," said Katy Worobec, director of FFA UK.
FFA UK is advising workers to:
- verify unusual payment requests- not use contact details provided in such emails- check the tone and spelling of the email. Is it consistent with that managers' usual emails?