Protecting Your Business from Email and Payment Scams

One of the most common financial scams today is Business Email Compromise (BEC). While the name sounds technical, the idea is simple: scammers impersonate someone you trust to trick you into sending money or sensitive information. Emails sent by the bad guys look very similar to ones you might have received in the past from a legitimate company, but closer examination can reveal warning signs that we will share below.

What is Business Email Compromise?

BEC occurs when criminals send emails or messages that appear to come from:

A business partner, vendor, or service provider
A company executive or employee

These messages often ask you to:

Send a wire or ACH payment
Change payment instructions or account details
Share sensitive information

The goal is to convince you to act quickly—before you have time to verify the request.

⚠️ Warning signs to watch for:

Requests to change payment details changes that are unexpected (such as changing the account number where a wire should be sent just before a real estate closing)
Messages that create urgency (“this must be done today”)
Requests to keep the transaction confidential
Email addresses or wording that look slightly “off”

🛡️ How to protect yourself:

Pause and verify all payment or account change requests, especially when it involves high-dollar transactions.
Confirm requests using a known phone number or trusted contact (Please do not call phone numbers listed in suspicious communications).
Never rely solely on email instructions for moving funds.
Contact your bank immediately if you think something isn’t right.
Taking a moment to verify can help prevent significant financial loss. If you have questions or believe you may have received a suspicious message, please contact us right away—we’re here to help.

You’re Not Fighting Fraud Alone

Chesapeake Bank offers tools and services designed to help protect your accounts and identity:

✅ Account Monitoring for suspicious activity

✅ Multi-Factor Authentication for Online Banking security

✅ Identity Theft Recovery Services for personal checking customers. View Frequently Asked Questions

✅ Positive Pay Fraud Prevention solutions for business accounts.

✅ Card Controls that allow you to manage and protect your debit cards

EXPLORE MORE

If you’re a business customer interested in solutions designed to help protect your business, get started here.

Need Assistance?

☎️ Fraud Center to report fraud: 855-293-2456
☎️ Business Account Support: 877-695-8239

A quick phone call can help prevent a costly mistake. When in doubt, verify first.