CIBC Commercial Banking Client Email Compromise
[This video uses animation to convey spoken content.]
[Music plays]
[The CIBC logo appears.]
[Cyber fraud prevention: Client email compromise.]
[A laptop computer is open on a desk. An email notification appears on the computer.]
>> Narrator: You are contacted by a vendor advising that they have received a strange email from you. And when you check your sent folder, you see a bunch of emails you know you never wrote. Be careful, you might be the victim of an email compromise.
[What is an email compromise?]
More and more business is conducted online every day, and that puts everyone at increased risk for online fraud. Email fraud is a common way that criminals attempt to steal money.
If your email password is easy to guess or if it was compromised in an online security breach, criminals can take over your account.
[An email is opened on the laptop.]
[This invoice is due tomorrow and I am in an important meeting right now. Could you please wire the money immediately?]
They email your clients and vendors requesting to send money.
[Recognize fraud]
If your email has been hacked, you might not even realize it. Here are some signs that you’ve been targeted:
[A mobile phone is shown on screen with a text message that reads: “Security check: Did you authorize the following activity for your online ID?”]
Your bank contacts you to confirm changes that you never requested or transactions you did not make.
Vendors and clients report receiving strange emails from your account with requests for money or changes to payment information.
[A laptop computer sits open on a desk with an email open.]
There are messages in your sent folder that you didn’t write.
[Protect yourself]
You can protect yourself by remembering these 5 simple rules:
[Protect your password]
Use a strong password that’s not easy to guess. Regularly update your passwords and never use the same password across multiple accounts. Enable two-step or multi-factor login authentication for your accounts.
[Turn on spam filters]
Turn on email spam filters.
[Update your software]
Use current anti-malware software. And make sure to keep your device and system software updated.
[Don’t engage]
If you receive a suspicious email or text message, don’t respond, don’t click any links, and don’t open any file attachments.
[Verify]
If you receive an email from a vendor asking you to change their account information, call them on a trusted number to verify the request was real.
Cybercrime is on the rise, but you can protect yourself.
[To learn more about fraud, visit us.cibc.com/FraudPrevention.]
[Legal disclaimer: The CIBC logo is a trademark of CIBC.]