Protect Your People: Newest Workday Scam Reroutes Employee Direct Deposit Funds

SS
Seyfarth Shaw LLP

Contributor

With more than 900 lawyers across 18 offices, Seyfarth Shaw LLP provides advisory, litigation, and transactional legal services to clients worldwide. Our high-caliber legal representation and advanced delivery capabilities allow us to take on our clients’ unique challenges and opportunities-no matter the scale or complexity. Whether navigating complex litigation, negotiating transformational deals, or advising on cross-border projects, our attorneys achieve exceptional legal outcomes. Our drive for excellence leads us to seek out better ways to work with our clients and each other. We have been first-to-market on many legal service delivery innovations-and we continue to break new ground with our clients every day. This long history of excellence and innovation has created a culture with a sense of purpose and belonging for all. In turn, our culture drives our commitment to the growth of our clients, the diversity of our people, and the resilience of our workforce.
Another week, another well-concocted phishing scam.
United States Technology

Another week, another well-concocted phishing scam.  The most recent fraudulent activity targeted businesses that use Workday, though this is not a breach or vulnerability in Workday itself.  Specifically, the attack involves a well-crafted spam email that is sent to employees purporting to be from the CFO, CEO, or Head of HR or similar.   Sometimes the emails include the name, title, and other personal information of the "sender" that we believe might be harvested from LinkedIn or other business databases.  The email asks employees to use a link in the phishing email or attached PDF to log into a fake Workday website that looks legitimate.  The threat actors who run the fake Workday website then use the user name and password to log into the Workday account as the employee and change their direct deposit bank/ACH information to another bank, relatable Green Dot, or similar credit card.

The fraud is typically only discovered when the employees contact HR inquiring as to why they did not receive their direct deposit funds.  Unfortunately it appears that spam filters and other controls are failing to prevent this email from infiltrating the organization's network.

In order to prevent this from happening to your organization, Workday has posted several "best practice" tips on their customer portal.  The most impactful mitigation techniques include enabling and enforcing two factor authentication on your organization's Workday instance, and changing your Workday settings to force administrative approval upon employee requests for direct deposit account change.  Both of these will help secure your Workday environment and avoid employee loss of paychecks.   Finally, always remember to train employees on fraudulent email identification through training and security drills/tests.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More