Three Burnaby businesses are out thousands of dollars after employees fell victim to the so-called CEO scam.

In the scam, fraudsters posing at managers, presidents and CEOs email employees of a company, instructing them to take money and buy gift cards, like iTunes cards or VISA gift cards.

article continues below

They then direct the employee to email them the pin numbers on the cards, allowing the fraudsters to use them immediately.

Burnaby RCMP has already received five reports of the scam in 2019.

"This fraud has resulted in some businesses losing up to $5,000," Cpl. Daniela Panesar stated in a press release. "Today we’re asking that business owners ensure their employees are aware of this scam and also know that it’s OK to ask questions of upper management if they think they’re being a victim of fraud."

If you've been a victim of the CEO scam report it to the Canadian Anti-Fraud Centre at 1-888-495-8501, the Competition Bureau at 1-800-348-5358 or the police.

Tips:

Beware of unsolicited calls or emails from people presenting an urgent situation requiring immediate attention

Educate employees at every level to be wary of unsolicited calls and emails

Take a careful look at the sender’s e-mail address. It may be very similar to the real one, with only one or two letters being different.

Give authority to only some staff to approve purchases and pay bills, and establish a standard process that requires multiple approvals for financial transactions

Make sure employees know how to verify a request for money before making a payment