"New BEC Tactics Enable Fake Asset Purchases"

According to the FBI, corporate sellers of IT, agricultural, and other goods should beware of business email compromise (BEC) scammers trying to get hold of their assets without paying.  The FBI noted that these attacks begin in the same way as many traditional BEC threats: fraudsters impersonate the email domains of legitimate companies and use the display names of current or former employees to make their scams seem more realistic.  However, instead of sending fake invoices or money transfer requests, they attempt to purchase high-value goods such as construction materials, agricultural supplies, IT hardware, and solar energy products.  The FBI noted that the key to helping them get away without paying is their use of fake credit references and fraudulent W-9 forms to request the use of credit repayment terms known as Net-30 and Net-60. If a vendor accedes to their use, the criminals will be able to make a purchase without needing to pay any money upfront.  The FBI warned that victimized vendors ultimately discover the fraud after attempts to collect payment are unsuccessful or after contacting the company they believed had initially placed the purchase order, only to be notified that the source of the emails was fraudulent.  

Infosecurity reports: "New BEC Tactics Enable Fake Asset Purchases"