A recent data breach at Workday, a major HR software provider, exposed contact data stored in its third-party CRM system. Attackers launched a targeted phishing campaign, posing as internal IT or HR staff via phone and SMS. Their goal: trick employees into revealing login credentials or sensitive information. Internal customer systems remained secure, but exposed data included names, work emails and phone numbers — details cybercriminals often use to launch payment fraud attempts.
How fraudsters bypassed security without hacking a thing
Rather than exploiting software vulnerabilities, the attackers relied on social engineering — a tactic that sidesteps digital defenses by targeting human behavior. Employees received fake internal requests that looked and sounded legitimate. Once trust was established, attackers captured access credentials or information that gave them entry to the CRM. It’s a reminder: the weakest link in any system is often a well-meaning person.
Why this breach is a red flag for your finance team
- Contact data exposure increases the risk of invoice or vendor fraud
- Third-party systems like CRMs often fall outside finance’s visibility
- Operational pressure rises as teams retrain staff and reassess vendor access
- Reputation risks grow if fraudulent activity spreads using the compromised data
This is no longer just an IT issue. Finance teams are increasingly targeted through the same vectors — especially when attackers know who to impersonate and what to ask.
What you can do today to stop voice and SMS-based fraud
Finance leaders should strengthen human and process defenses, not just technical ones:
- Train teams to verify any unexpected request — even from internal contacts
- Enforce call-back procedures before changing vendor bank details
- Review who has access to vendor-related systems, including CRMs and ERPs
- Simulate phishing attempts using voice and text formats, not just email
- Validate vendors independently using sources outside email or invoices
How Eftsure protects payments from impersonation attacks
Eftsure helps finance teams verify every vendor — and every change — before funds are released. It closes the gaps that social engineering exploits by:
- Validating vendors against independent data sources
- Confirming bank account details in real time
- Flagging unusual payment behavior as it happens
Even if an attacker gains access to contact info or poses as someone inside your business, Eftsure ensures the payment itself won’t go through without proper verification.
Take the next step
See how Eftsure protects your team from payment fraud driven by social engineering. Request a demo
