Beware the RFQ Ruse: Net Financing Scam Targets Your Tech and Medical Devices
Proofpoint has uncovered a sophisticated RFQ scam using net financing terms. Scammers pose as procurement agents, targeting businesses with fraudulent requests for high-value electronics and medical devices. They use stolen data and fake domains to trick companies into shipping goods on credit, often redirecting shipments to unsuspecting or complicit addresses.
Hot Take:
In the latest episode of “Scammers Gone Wild,” a new Request for Quote (RFQ) scam is sweeping the business nation, leaving companies scratching their heads and wondering how their Wi-Fi routers ended up on a one-way trip to Scamville. Apparently, the art of deception has evolved from fake Nigerian princes to sophisticated impersonations of procurement agents. Who knew your Fluke testing device could be part of an international crime spree? Maybe it’s time to start questioning every email that promises net payment terms with a wink and a nudge. After all, if it looks like a scam and quacks like a scam, it probably is a scam.
Key Points:
- Scammers use RFQ emails to pose as legitimate procurement agents and request high-value goods on credit.
- They leverage common net payment options and fake business documentation to facilitate fraud.
- Threat actors often use lookalike domains and free email accounts to target businesses.
- Stolen goods are shipped to warehouses, residential addresses, or forwarded to West African countries.
- Proofpoint disrupted the scam by deactivating malicious domains and intercepting packages.