SIOUX FALLS, S.D. (KELO) — Local businesses need to be aware of a phishing scam that’s cost companies billions of dollars.
It’s called Business Email Compromise, when a hacker will impersonate a boss and email an employee to buy gift cards or wire money to a bank account that may appear legit, but turns out to be controlled by scammers.
“This is happening all over the country and it’s happening all over South Dakota. Organizers large or small, either from the gift card card thing to the wiring money out of the country and it’s significant, it’s very significant,” Jessie Schmidt with the Better Business Bureau said.
Schmidt says it’s important for businesses of all sizes to improve their internet security and train all employees to avoid getting scammed.
As many as eight out of every ten businesses have been targeted by these types of scams.