for some time now, we’ve been witnessing a new form of scam, meticulously
organized: the president scam. This type of messaging scam
electronics affects large structures as well as small and medium-sized ones.
medium-sized companies. What is it and how do you protect yourself?
President scam: what is it?
also known as FOVI(Faux
Ordres de Virements Internationaux), the president’s scam
refers to a fraud perpetrated against any company. This
scams affect all types of structures.
central pour la Répression de la Grande Délinquance Financière) statistics,
this form of fraud has been on the decline since 2015. However, this
The decrease is more pronounced for large retailers than for small businesses. These
The latter are now becoming a potential target for scammers.
to achieve their objective, fraudsters often target the assistants of
the company’s management and accounting staff and use the
information to ask for money.
How to recognize it?
how do you know if it’s a president scam? The crooks
ask the company to send them a large sum of money, making themselves
as the company director. The modus operandi is generally similar,
it’s easier to avoid falling into the trap by demonstrating
the fraudsters have all the information they need about the
the company (thanks to social networks in particular), the only way to spot it is by
remains the query characters. This is often an urgent and confidential transfer order to a
In most cases, the amount is still significant and the cash outflow is at the
and unplanned. Whoever is behind the FOVI can use
new contact details, while retaining the identity of the company owner.
usurp. Scammers don’t hesitate to make follow-up phone calls in order to
apply pressure. In this case, remember to call your contact back on his or her
How to avoid it?
to avoid being trapped, there are a number of steps you can take. Sources
company’s contact details, social networks can be a very effective
useful to fraudsters. It is therefore advisable to remain cautious when using these
On the other hand
On the other hand, to avoid fraud and any risk of loss of funds, remember to
establish strict regulations or safety procedures when the company
must make an international transaction. In addition, the
must be up to date and infallible. Protect your
mail with an efficient email security service likeAltospam.
you’ve realized that you’re the victim of a president scam,
it is advisable to alert the bank immediately so that it can
can cancel the transaction. In this way, you can recover the
lost bottom. Of course, it is also advisable to lodge a complaint with the
as soon as possible.