IMPORTANT NOTICE TO COMMERCIAL CLIENTS: WIRE FRAUD - DON’T BECOME A VICTIM!

There have been increased reports across the nation of a theft scheme that involves hackers stealing email addresses and sending fraudulent wire instructions to commercial businesses.
This practice is referred to as Business Email Compromise. As a prospective or current commercial banking client, we want to raise your awareness of tactics fraudsters use and share
steps you can take to minimize your risk of becoming a victim. If you send a wire to a fraudulent party, recovering the wire is almost impossible. YOUR MONEY WILL BE LOST.

Wire fraud emails are generally characterized by:
  • Impersonation of a high-level executive or owner of the business.
  • Email domains that are similar or an exact match to the real email address.
  • The email conveys a sense of urgency for the transfer.
  • The email references an unavailability for verbal confirmation or last-minute changes to original instructions.

Please follow these steps prior to processing any wire requests based on information received from others:
  1. Confirm requests for transfers of funds by calling the person that is requesting the wire. DO NOT use the phone number provided in the email request. Use the number you have on file or obtain the phone number from an independent third party source such as the entity’s website.
  2. Contact the wire department of the bank sending the wire to confirm the request.
  3. Use two-factor authentication for fund transfers. Verify changes in vendor payment location by adding a secondary sign-off by company personnel.

What to do if you are a victim:
  • Contact Chain Bridge Bank immediately upon discovering the fraudulent transfer: 703-748-2005.
  • Contact your local FBI office.
  • File a complaint at www.IC3.gov, the Internet Crime Complaint Center.