Wallis Companies Defrauded of Several Hundred Thousand Francs
- 27 Sep 2023 9:26 am CET
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Last week, several hundred thousand Swiss francs were stolen from a Wallis company by fraudsters. The fraudsters posed as company executives and ordered the payment of a large sum of money. The Wallis police have warned of this so-called CEO fraud since mid-September and have reported several cases of this type. The fraudsters contact the company's accounting department by email or phone, pretending to be a senior manager. They demand that the employee transfer a large sum of money, for example under the pretext of a confidential company takeover or the establishment of a new bank account. They insist that the payment remain confidential and be made as soon as possible. The police advise companies to not provide any information if they receive an unusual contact and to have the payment request confirmed by their supervisor. They also recommend that companies introduce internal control procedures. In summary, companies should be aware of CEO fraud and take steps to protect themselves, such as confirming payment requests with their supervisor and introducing internal control procedures.