Tax season is a busy time for everyone, including scammers. Fraudulent emails targeting businesses and individuals are becoming increasingly sophisticated, making it critical to stay vigilant. We recently encountered a situation that highlights just how easy it is to fall victim to these scams — and how simple precautions can help protect you.

The Story

One of our clients received an email that appeared to be from one of their employees. The email requested a bank account change and even included all the necessary details, such as a copy of a voided check. Everything seemed legitimate at first glance. However, instead of verifying the request directly with the employee, the client forwarded the email to us to process the change. Before proceeding, we reached out to the client and asked them to confirm the request directly with their employee, outside of email communication. It was then we discovered the request was not legitimate. The email was a scam.

How to Protect Yourself

To prevent falling victim to email scams, follow these essential steps:

• Verify Requests via Phone: If you receive an email requesting changes to sensitive information, such as banking details, always call the person who made the request to confirm it directly. Never rely solely on email communication for verification.
• Don’t Reply to Suspicious Emails: Avoid replying to the email you received to verify its authenticity. Scammers often spoof email addresses, and your reply may go directly to them, giving them more opportunities to deceive you.
• Be Wary of Unsolicited Emails: Pay close attention to unexpected requests, especially those involving financial information or sensitive data. Even if the email looks legitimate, take extra precautions to confirm its validity.
• Train Your Team: Educate employees on how to spot phishing emails and the importance of verifying requests.
• Enable Multi-Factor Authentication (MFA): For added security, implement MFA for email accounts and other sensitive systems. This extra layer of protection can help prevent unauthorized access to accounts.

Stay Vigilant, Stay Safe

This recent incident was a wake-up call for all of us. While it had a safe outcome, it could have ended very differently without proper verification. Scams are becoming more sophisticated, but with the right precautions, you can protect yourself, your employees, and your business from falling victim. If you’re unsure about the legitimacy of an email, feel free to reach out to us. We’re here to help you stay secure.

Remember: Verify first, act second. Always.