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Business Imposter Scam

Business Imposter Scam: Know your relationships, take steps to verify

Cyber criminals compromise business systems while purporting to be a familiar business representative.

Slow down, log the contact. Make One call to a contact, Call an organization who cares

  • Funds are requested appearing to be standard operating procedure.
  • Email may be hacked or a sender email may impersonate the email of the business.
  • Emails sent to unassuming recipients appear to be from the business. 
  • Email recipients are under pressure to act fast due to an underlying emergent issue. 
  • Common forms of payment include bank wire transfers, cryptocurrency, and gift cards.
  • Funds sent likely cannot be retrieved.

Scam Recovery

Avoiding the Business Imposter Scam

Steps to Verify

  1. Cybersecurity assessment: check internal controls and resolve vulnerabilities.
  2. Train staff regularly in cybersecurity and funds management protocols.
  3. Enlist internal protocols to verify the transfer of funds by engaging multiple staff members and voice verification, using trusted contact information.
  4. Help clientele to identify common scams within the industry.
  5. The SLOW method can serve as a helpful starting point, encouraging parties to take their time during urgent transactions and connect with a trusted party.
  6. Never send money to parties you cannot verify.

Video Survey

FBI: More about the Business Imposter Email Scam


Business Imposter Scam loss reported to the FBI over a 7 year period 1
Business Imposter Scam reports to the FBI in 2020
Business Imposter Scam loss reported in VT in 2020

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Imposter Scams Toolkit

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Recovering from this scam?  Get help now.

Recover from Scams 1

1-800-649-2424    |

Consumer Assistance Program | 109 State Street, Montpelier, VT 05609-1001 | 1-800-649-2424 |