We at TD Bank want to alert you to the significant increase in businesses being victimized by fraudulent wire transfer scams perpetrated by e-mail. The specifics of the frauds vary, but their common goal is to send an e-mail message that appears to be a legitimate request for a wire transfer to a specific account, when the request is actually fraudulent and the destination account is controlled by the fraudster. The e-mail is directed to an employee at a business and typically appears to be from a higher-level individual at the same company. TD Bank advises customers not to arrange wire transfers solely by e-mail. All wire transfer requests should be confirmed by a second verification process that cannot be intercepted and manipulated by e-mail hackers prior to initiation with us. Please refer to your customer agreement for the terms and conditions governing your account.
For additional information from the FBI, including examples of fraud and ways to help protect against fraud, see the following alerts:
Learn more about how to help protect your business from online bank fraud.