Description
Payroll Email Compromise refers to a type of fraud where cybercriminals gain unauthorized access to an organization’s email system and manipulate payroll-related communications to divert funds to their own accounts. This scam typically involves impersonating an executive or a trusted individual within the organization, such as the HR manager or the payroll administrator.
The perpetrators of Payroll Email Compromise often employ social engineering techniques to trick employees into providing sensitive payroll information or initiating fraudulent transactions. They may send deceptive emails requesting changes to employee bank account details or directing the transfer of funds to fraudulent accounts. These fraudulent emails are carefully crafted to appear legitimate, making it difficult for employees to identify the scam.
To prevent Payroll Email Compromise, organizations should prioritize cybersecurity measures. This includes implementing strong email security protocols, such as multi-factor authentication and encryption, training employees on identifying and reporting suspicious emails, regularly updating and patching software systems, and maintaining robust network security measures.
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