[ CyberSecurity Awareness Series] The VEC Scam

Bob heaved a sigh of relief after he saw the mail. The payment had been processed and he had immediately received the payment confirmation from the vendor. It was the end of the month and he wanted no non-compliance on the part of his company towards payments of dues. In fact, Bob had looped in the finance department in the emails to ensure payment was processed immediately by the department post validation of invoice. The next day, he receives a call from one of his vendors, IAMVendor, to settle down the dues for this month. Bob tells them that the payment had already been made and in fact, IAMVendor had also sent them the payment confirmation message. In order to avoid any confusion, Bob decides to send them the payment confirmation as well as the invoice sent by them. The next day, Bob receives emails from other vendors too, asking for details as to when the payments will be processed. Bob calls up his finance department and asks them to check with their bank as to why has the