All you need to know about the president scam

Understanding the president scam

From 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?

Known 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.

According to OCRDGF(Office 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 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?

So.., 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 vigilance.

Like 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 international account.

In 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 official number.

How to avoid it?

To 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 platforms.

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.

If 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.

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