Social Engineering Fraud Against Public-Sector And Other Entities

LexisNexis (October 19, 2017, 12:59 PM EDT) -- As reported in prior issues of this newsletter, social engineering often plays a large role in many of the most prevalent forms of payment fraud.  NACHA recognized a growing trend of social engineering by which fraudsters manipulate public-sector employees to redirect legitimate vendor payments to accounts under the control of the fraudsters.  The fact that public-sector entities often must make their contracts a matter of public record appears to make them a favorite target of the fraudsters.  In response, NACHA released its ACH Operations Bulletin #1-2017...
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