Payment Fraud Prevention
Stop wire transfer fraud, vendor impersonation, and invoice scams before they cost you.
The Fraud Nobody Talks About Until It's Too Late
Business Email Compromise (BEC) — wire transfer fraud, vendor payment scams, and invoice fraud — is the single largest source of cybercrime losses in the United States. The FBI's Internet Crime Complaint Center reports billions in losses annually, with the average incident costing organizations over $120,000.
Unlike ransomware, BEC is quiet. Attackers compromise or impersonate an email account, intercept a payment conversation, and reroute funds to an account they control. By the time the fraud is discovered, the wire has cleared — and recovery is rarely possible.
This isn't a technology problem you can buy your way out of. It's a combination of process gaps, email security weaknesses, and untrained staff — and all three require attention.
How Attackers Get Paid
- Compromise a vendor's email account, monitor for invoices, then swap payment details
- Spoof a vendor's domain to send convincing "banking change" requests
- Compromise an executive's email and request urgent wire transfers to staff
- Intercept real estate transactions and redirect closing funds
- Register lookalike domains that look correct at a glance
- Use AI-generated voice or writing to impersonate trusted contacts
A Three-Layer Approach
Effective payment fraud prevention requires strengthening people, process, and technology together.
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Staff Training & Awareness
Finance teams, accounts payable staff, and executives are the last line of defense against payment fraud. We build targeted training that goes beyond generic phishing awareness — focused specifically on the tactics used in payment fraud scenarios.
- Real-world BEC examples reviewed with your team so they know exactly what to watch for
- Practice run: walk your team through a realistic vendor fraud attempt
- Training to spot fake identities, urgency pressure, and convincing-looking fraud
- Targeted guidance for finance, accounts payable, and leadership
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Strengthening Your Payment Process
Most payment fraud succeeds because there's no formal process for verifying banking changes or approving large wire requests. We review how your organization handles payments and build simple controls that stop fraud before money moves.
- Review and rebuild how payment change requests get approved
- Phone call verification before any payment details are changed
- Two-person approval requirement for large transfers
- Checklist for confirming vendor banking changes are legitimate
- Clear steps for what to do when something feels off
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Making Your Email Harder to Fake
Attackers rely on weak email security to impersonate your vendors or take over accounts undetected. We review the settings and access controls that make it harder for someone to send email pretending to be you — or to quietly access your inbox.
- Review of settings that prevent attackers from sending email that looks like it came from you
- Spam and fraud filter review
- Confirm two-step login is in place for all email accounts
- Check for hidden rules that could be forwarding your email to an attacker
- Watch for fake domains designed to impersonate your business
Hear It Straight: How Payment Fraud Actually Works
Helm founder Drew Hjelm breaks down real BEC and payment fraud tactics — and what stops them.
Who This Is For
Construction firms, real estate closing attorneys, law practices, and accounting offices that regularly wire vendor payments are primary targets. Attackers follow the money — and industries with frequent, high-value wire transfers are where BEC is most profitable.
Smaller organizations are frequently targeted because they tend to have fewer controls and faster payment processes than large enterprises. If you've wired money to a vendor in the last six months, you're in the target demographic.
If you've already received a suspicious "banking change" request or nearly wired funds to a compromised vendor — use that near-miss to harden before the next attempt lands differently. That's exactly what this engagement is for.
What You'll Have When We're Done
- Payment fraud risk assessment with findings and recommendations
- Documented payment change request and verification procedures
- Phone verification process and vendor payment change checklist
- Email security settings review report
- Staff training session and fraud simulation results
- Practice exercise summary with gaps identified and next steps
Not Sure Where to Start?
You don't need to be a security expert to ask questions. If you've had a suspicious request, a near-miss, or just want to know how exposed you are — that's exactly what the free consultation is for. We'll talk through your situation in plain language.
Schedule a Free Consultation