*By Chris Tomlinson, Bill Butler, & Jim McLoughlin. Businesses are facing this system hack with ever-increasing frequency: An accounts payable employee receives new or updated payment instructions from a vendor via email. The email appears to be from a familiar counterpart at the vendor; it contains accurate details specific to a current transaction; the new bank is well known; and the new instructions have the vendor’s name, or a version of it, as the beneficiary. The accounts payable employee executes the electronic transfer payment consistent with the wiring instructions ...
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