BBB Bureau Briefs: Whaling Scams

WICHITA FALLS, Tx (RNN Texoma) - Monica Horton, president of the BBB North Central Texas, stopped by News Channel 6 at Noon on Monday to talk about Whaling Scams.

Whaling is a form of phishing but it's called "whaling" because of the size of the target relative to typical phishing attacks. "Whales" are carefully chosen because of their authority and access within the company.

The goal of a whaling attack is to trick an executive employee into revealing personnel or corporate data, however, in our local cases, managers were tricked into sending money. Wichita Falls business losses last month total $10,000.

Employees are reporting the caller is pretending to be with corporate headquarters security for the company and they tell the manager that the General Manager or Store Manager is suspected of Fraud.

The call usually is placed after banking hours. They continue the story by saying they are conducting an internal audit and need an emergency deposit.

Once the employee agrees, they direct the employee to the nearest retailer where Green Dot Money cards are available and instruct them to purchase the cards with the cash.

Once the money is loaded onto the card, they request the card information and are able to access those funds from anywhere in the world stealing all the money.

To report this or any other scam visit our BBB Scam Tracker online at www.bbb.org/scamtracker.

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