NCUA Alert: Email Compromise Through Exploitation of Cloud-Based Services

According to the FBI’s Internet Crime Complaint Center, cybercriminals are targeting organizations that use popular cloud-based email services to conduct business email compromise scams. Credit unions can take steps to prevent this type of fraud and should report any incidents of fraud immediately to the FBI’s Internet Crime Complaint Center and local FBI field office. Reporting incidents to the Internet Crime Complaint Center within 24 hours increases the chances of recovery for funds wired under fraudulent pretenses.

You can prevent business email compromise fraud and wire transfer fraud by taking precautionary steps.

Learn more at NCUA.