Cranbrook RCMP is warning businesses about a fraud scam targeting corporate email systems, specifically Microsoft 365 portals.
The Cranbrook detachment is investigating several incidents involving the same type of fraud and is concerned additional victims may not have reported losses.
Cybercriminals are gaining access to business email systems, including accounts protected by two-factor authentication, and sending fake invoice payment requests to clients from legitimate company email addresses.
The fraudsters ask clients to send payments to a different bank account than usual, making the scam appear legitimate because the emails contain accurate invoice details and correct payment amounts.
In some cases, scammers intercept or reroute email replies, preventing businesses from seeing responses and delaying detection of the fraud. Because the emails originate from trusted email addresses and include correct billing details, clients often have no immediate indication the invoice is fraudulent.
RCMP said businesses and clients should always verify banking or payment changes by calling a trusted contact directly or confirming the information in person. Businesses should use previously established contact information and should not rely solely on email confirmation.
Businesses are also encouraged to review email security settings, access logs and forwarding rules, educate staff about the scam and contact their financial institution and police immediately if they suspect fraudulent activity.
Businesses or clients who believe they have been targeted or victimized by this type of fraud should report the incident to Cranbrook RCMP through the non-emergency line.
