Mother Technologies would like to draw attention to a fraudulent wire transfer technique that some of our customers have recently encountered. The technique is called spear phishing.

Spear Phishing relies upon email messages posing as urgent communications from senior officers sent to lower level employees. The messages demand that employees wire funds to destination accounts provided in the message.

These emails can be very convincing and are typically sent to corporate executives, corporate finance personnel, or others likely to have roles in authorizing or executing accounts payable operations. We highly recommend making your employees aware of this threat and cautioning them against falling victim to these attacks.