Bank of America Custom Supplement - S5

Common phishing tactics in 2020
Coronavirus news
Changes in payment schedules
Employees working from home
on unsecured devices
The FBI recently reported an increase in payroll diversions
that resulted from cyber criminals targeting staff in human
resources and payroll, requesting changes to employees'
direct-deposit accounts. Vendor-specific incidents also are
on the rise. Criminals impersonate a legitimate, trusted
vendor and try to persuade someone at the company to
make payment for contracted services. Or an email asks
that a vendor's information be changed, diverting payments
to the criminal's address or a fraudulent bank account.
Meanwhile, ransomware, sometimes the end result of
a successful business email compromise, is a perennial
threat. The idea is no longer new: Using an email link or
attachment, a criminal delivers software that automatically
downloads and then locks or corrupts a computer
system - until a hefty ransom is paid.
In recent months, the deployment of ransomware has
skyrocketed. In 2019, more than 200,000 organizations said
they had files that had been hijacked in ransomware incidents,
a 41% increase from the previous year. The ransom paid to
release files can range from thousands to millions of dollars
and averaged $84,000 in the fourth quarter of 2019.5
Ransomware has become so lucrative that criminal
organizations now offer prepackaged ransomware kits and sell
them on the portion of the internet known as the dark web.
It's popular because it works. Victimized businesses pay
ransoms because they face a ticking clock and the threat
of a data breach or compromised business operations if
they don't pay the criminal.
As the number of connected devices grows and the
techniques that cyber criminals use improve and evolve,
dealerships will need to remain vigilant and proactive.
Employee education and a relentless eye for cyber security
are the best tools to protect susceptible staffers and
company resources.

What does business
email compromise
look like?
Most attempts at business email
compromise fall into a few general
categories:

1

Vendor email compromise: A cyber criminal
takes control of a legitimate email account from
a vendor, forging or spoofing that email address.
The emails might include requests to change
payment or bank account information in an effort
to divert vendor payments to the criminal.

2

Executive payment requests: A criminal
impersonates a supervisor or business owner by
using a spoofed or compromised email address.
The message o en asks an employee to make
a payment and typically stresses the need to
make it quickly - hoping the employee will avoid
checking the request through proper channels.

3

Payroll diversion schemes: A criminal
pretends to be an employee and sends a request
to change direct-deposit account information,
hoping to reroute the paycheck to a fraudulent
bank account the criminal can access.

Suspicious keywords
The most common words and
phrases used in business email
compromise attempts:6
Transaction request
Important
Outstanding payment
Important update
Notice of payment received

Urgent
Request
Payment
Info
Attention
BANK OF AMERICA

5



Bank of America Custom Supplement

Table of Contents for the Digital Edition of Bank of America Custom Supplement

Bank of America Custom Supplement - SIntro
Bank of America Custom Supplement - SCover1
Bank of America Custom Supplement - SCover2
Bank of America Custom Supplement - S1
Bank of America Custom Supplement - S2
Bank of America Custom Supplement - S3
Bank of America Custom Supplement - S4
Bank of America Custom Supplement - S5
Bank of America Custom Supplement - S6
Bank of America Custom Supplement - S7
Bank of America Custom Supplement - S8
Bank of America Custom Supplement - SCover3
Bank of America Custom Supplement - SCover4
https://www.nxtbook.com/nxtbooks/crain/an4859867123HPGMF_supp
https://www.nxtbook.com/nxtbooks/crain/an9875632144BLASA_supp
https://www.nxtbook.com/nxtbooks/crain/an5948576134HMTFC_supp
https://www.nxtbook.com/nxtbooks/crain/an4958670126PBWGM_supp
https://www.nxtbook.com/nxtbooks/crain/an9384756453JBFPW_supp
https://www.nxtbook.com/nxtbooks/crain/an8395756432AMIHC_supp
https://www.nxtbook.com/nxtbooks/crain/an9405856762CSFLS_supp
https://www.nxtbook.com/nxtbooks/crain/an3873120954AMTCW_supp
https://www.nxtbook.com/nxtbooks/crain/an8097364512SITPF_supp
https://www.nxtbook.com/nxtbooks/crain/an3478925478LIALS_supp
https://www.nxtbook.com/nxtbooks/crain/an9894756324SSFTL_supp
https://www.nxtbook.com/nxtbooks/crain/an5847323487AICCS_supp
https://www.nxtbook.com/nxtbooks/crain/an3874321237DILDC_supp
https://www.nxtbook.com/nxtbooks/crain/an8784431649FWCWY_supp
https://www.nxtbook.com/nxtbooks/crain/an8392274512LCCSM_supp
https://www.nxtbook.com/nxtbooks/crain/an5623423988AMCTW_supp
https://www.nxtbook.com/nxtbooks/crain/an9384756213BALRS_supp
https://www.nxtbook.com/nxtbooks/crain/an9382218435SPOMB_supp
https://www.nxtbook.com/nxtbooks/crain/ANshowdaily80819
https://www.nxtbook.com/nxtbooks/crain/ANshowdaily80719
https://www.nxtbook.com/nxtbooks/crain/ANshowdaily80619
https://www.nxtbook.com/nxtbooks/crain/an3214543326LCFPC_supp
https://www.nxtbook.com/nxtbooks/crain/an9381127498RISGS_supp
https://www.nxtbook.com/nxtbooks/crain/an8473635224CDSLM_supp
https://www.nxtbook.com/nxtbooks/crain/an8373746387BIMHS_retail
https://www.nxtbook.com/nxtbooks/crain/an7698534210IRHTD_supp
https://www.nxtbook.com/nxtbooks/crain/an8447751218IHAGC_supp
https://www.nxtbook.com/nxtbooks/crain/an8576321197WMPRC_supp
https://www.nxtbook.com/nxtbooks/crain/an6399112438IRHAH_supp
https://www.nxtbook.com/nxtbooks/crain/an8736450912ADGJT_supp
https://www.nxtbook.com/nxtbooks/crain/an8700873122RNARH_supp
https://www.nxtbook.com/nxtbooks/crain/an1093836455HAGTA_supp
https://www.nxtbook.com/nxtbooks/crain/an9808765635GTJTW_supp
https://www.nxtbook.com/nxtbooks/crain/an6525367432FHMLB_supp
https://www.nxtbook.com/nxtbooks/crain/an8597421143MCFPA_supp
https://www.nxtbook.com/nxtbooks/crain/an4298726547VWGGA_supp
https://www.nxtbook.com/nxtbooks/crain/an7799856412ILBOV_supp
https://www.nxtbook.com/nxtbooks/crain/an2056982648AHHIA_supp
https://www.nxtbook.com/nxtbooks/crain/an5678154982IEHDT_supp
https://www.nxtbook.com/nxtbooks/crain/an0211270720DPISS_supp
https://www.nxtbook.com/nxtbooks/crain/an2325269754PSINO_supp
https://www.nxtbook.com/nxtbooks/crain/an5627892889EASBC_supp
https://www.nxtbook.com/nxtbooks/crain/an4778021396LTBFA_supp
https://www.nxtbook.com/nxtbooks/crain/an1549365874TIUIG_supp
https://www.nxtbook.com/nxtbooks/crain/an9685896971RTQAT_supp
https://www.nxtbook.com/nxtbooks/crain/an3126539765SSIKM_supp
https://www.nxtbook.com/nxtbooks/crain/an2348716424IHBFN_v2
https://www.nxtbook.com/nxtbooks/crain/an2713112513DPIAA_GEDsupp
https://www.nxtbook.com/nxtbooks/crain/an2713112513DPIAA_GIEsupp
https://www.nxtbook.com/nxtbooks/crain/an5740978765KIYTC_v2
https://www.nxtbook.com/nxtbooks/crain/an8786483429YWIRB_v2
https://www.nxtbook.com/nxtbooks/crain/an1441850607BCEKP_supp
https://www.nxtbook.com/nxtbooks/crain/an2231982341SHRK_supp
https://www.nxtbook.com/nxtbooks/crain/an9824752309LOLIKP_supp
https://www.nxtbook.com/nxtbooks/crain/an8849332574YIKP_supp
https://www.nxtbook.com/nxtbooks/crain/an3756575112SAIKPv2
https://www.nxtbook.com/nxtbooks/crain/an7389812526DOQKPv2
https://www.nxtbook.com/nxtbooks/crain/an7474633298JQMKPv2
https://www.nxtbook.com/nxtbooks/crain/an8763487432NAOKPv2
https://www.nxtbook.com/nxtbooks/crain/an3748383922LRGKPv2
https://www.nxtbook.com/nxtbooks/crain/an8347508927POTKPv2
https://www.nxtbook.com/nxtbooks/crain/an9610620377FSKKP_supp
https://www.nxtbook.com/nxtbooks/crain/an4981263095CBNKP_supp
https://www.nxtbook.com/nxtbooks/crain/an6723445245SDFLF_supp
https://www.nxtbook.com/nxtbooks/crain/an4862340134FSEJC_supp
https://www.nxtbook.com/nxtbooks/crain/an4596813450LQFCN_supp
https://www.nxtbook.com/nxtbooks/crain/an2348692346SDGCN_supp
https://www.nxtbook.com/nxtbooks/crain/an1634224522ASDLC_supp
https://www.nxtbook.com/nxtbooks/crain/an0267104334RTSJC_supp
https://www.nxtbook.com/nxtbooks/crain/an6029878560PGSCN_supp
https://www.nxtbook.com/nxtbooks/crain/an5214469855HGBKP_supp
https://www.nxtbook.com/nxtbooks/crain/an1062061234GSGBL_supp
https://www.nxtbook.com/nxtbooks/crain/an5038325406GSDCN_supp
https://www.nxtbook.com/nxtbooks/crain/an3992752354ASPLF_supp
https://www.nxtbook.com/nxtbooks/crain/an7986445324GHYCN_supp
https://www.nxtbook.com/nxtbooks/crain/an1455687392FTBTE_v2
https://www.nxtbook.com/nxtbooks/crain/an2289678453HBCLF_v2
https://www.nxtbook.com/nxtbooks/crain/an5633892673TBEKP_v2
https://www.nxtbook.com/nxtbooks/crain/an4663981572FBCJC_v2
https://www.nxtbook.com/nxtbooks/crain/ane_7746982457HCTBV_supp
https://www.nxtbook.com/nxtbooks/crain/an8994656823RVGCN_v2
https://www.nxtbook.com/nxtbooks/crain/an4566329884GVTLF_supp
https://www.nxtbook.com/nxtbooks/crain/an7466398157YCPTS_supp
https://www.nxtbook.com/nxtbooks/crain/an5334987156YBHBL_supplement
https://www.nxtbook.com/nxtbooks/crain/an2822679175GTHTS_bestpractices
https://www.nxtbook.com/nxtbooks/crain/an4893356182CJPCN_v2
https://www.nxtbook.com/nxtbooks/crain/an8388619274RBCCN_v2
https://www.nxtbook.com/nxtbooks/crain/an7833092572SPRBW_v2
https://www.nxtbook.com/nxtbooks/crain/an5533789923FTBLF_v2
https://www.nxtbook.com/nxtbooks/crain/an7884599237HYQJC_v2
https://www.nxtbook.com/nxtbooks/crain/an1335576249HBWKP_v2
https://www.nxtbook.com/nxtbooks/crain/an7855749033KPMLF_v2
https://www.nxtbook.com/nxtbooks/crain/an8946778932RBTTS_v2
https://www.nxtbook.com/nxtbooks/crain/an6735519136YBPMG_v2
https://www.nxtbook.com/nxtbooks/crain/an_20130318Top125
https://www.nxtbook.com/nxtbooks/crain/an3766500224HBPJC_v2
https://www.nxtbook.com/nxtbooks/crain/an_080612_supp
https://www.nxtbookmedia.com