Oct 16, 2019

Direct Deposit Fraud Alert

We are seeing an increase in compromised email accounts and hackers are using these compromised email accounts to submit fraudulent direct deposit requests to employers. The fraudulent direct deposit accounts are typically in the form of pay cards. Below are a few suggested best practices if you are contacted regarding a direct deposit addition or change.

If an employee emails you a direct deposit change:

  • Do not accept pay cards as a type of direct deposit unless they are provided to you in person. Do not accept them via email.
  • The change request should be on a direct deposit authorization form, signed by the employee.
  • The employee should provide a copy of a voided check or a letter from the bank showing the account belongs to your employee.
  • Call or speak in person with your employee and verify that they have requested this change.

Together we can make small steps to save BIG BUCKS from being lost to fraudsters!

If you have any questions, please contact your BMSS CPA at (833) CPA-BMSS.