Guarding your Association’s Finances: Best Practices to Combat Payment Fraud

Community Association Management companies are under siege from high-tech conmen determined to rip them off. From check fraud and Business Email Compromise (BEC) attacks to account takeovers and vendor impersonation, fraudsters have become more brazen and more sophisticated.  Mailbox keys purchased on the Dark Web or stolen from postal carriers have made it easy for bad actors to steal checks sent through the mail. Artificial intelligence (AI) and social engineering enable fraudsters to create convincing bank account change requests. And malicious software hidden in email links or attachments can give bad actors unfettered access to an organization’s finance systems.    Read the article…………………………….