Iowa Attorney General Joins FBI In Warning Businesses About Sophisticated Scam

Iowa Attorney General, Tom Miller, is warning Iowa businesses and non-profit organizations of a sophisticated scam that is sweeping the state. The Federal Bureau of Investigation refers to the scam as the “Business Email Compromise,” or the BEC scam. Several businesses and non-profits in Iowa have reported scam attempts in which they received impersonated emails that attempts to dupe the staff into making office-related wire transfer payments. Those reporting the scams include religious organizations, a hospital and multiple county political party offices. According to the FBI, these criminals, who typically operate out of a foreign country, study their targets, monitoring their activity to correctly identify the protocols required to perform wire transfers. Miller and the FBI urge all companies and organizations to discuss the scam with their employees authorized to make such payments. “This scam is a good reason for businesses and non-profits to review internal payment controls and security procedures,” Miller said. Anyone believing they are a victim of this scam should contact their financial institution as soon as possible and then report it to their local FBI office. Online complaints can be filed with the FBI’s Internet Crime Complaint Center at www.ic3.gov.