The Financial Industry Regulatory Authority warned broker-dealers Wednesday to be on the lookout for a phishing email targeting compliance personnel.
Brokerage firms have reported to FINRA that the email appears to be from a legitimate credit union attempting to notify the firm about potential money laundering involving a purported client of the firm.
“The email directs the recipient to open an attached document — which likely contains a malicious virus or malware designed to obtain unauthorized access to the recipient’s computer network,” FINRA states in a Information Notice.
Phishing scams are ever-changing and are designed to infiltrate the computer network of the recipient, FINRA points out.
The BDs reported receiving suspicious emails from a purported BSA-AML compliance officer working at what appears to be a legitimate Indiana-based credit union.