CEG Industry Blog

Terex Takes a Bite Out of Cybercrime

Cybercriminals are trying to steal customers’ money. Worse, they’re doing it in the name of Terex. How?

📅   Fri March 18, 2016 - Edition


Terex is committed to helping our customers protect themselves against cybercrime.
Terex is committed to helping our customers protect themselves against cybercrime.

Cybercriminals are trying to steal customers' money. Worse, they're doing it in the name of Terex. How?

First, these criminals target our customers, such as Terex sales-related third parties (distributors, sales representatives and agents, for example) and end-customers. They then hack into unsecured customer email accounts, send fake emails that look like they are coming from Terex, and direct the customer to wire payment for equipment purchased into a certain bank account. The bank account, of course, belongs to the fraudster.

Terex is committed to helping our customers protect themselves against cybercrime. Here are some important tips and reminders:

✓ Terex will not use email alone to inform customers of a change in wiring instructions. From time to time, we do change banks and wiring instructions, but we will never inform a customer of the change via email only. If a customer is informed of new Terex wiring instructions by email alone, ask them to treat the email as suspicious and contact Terex immediately for verification. The customer should use the telephone number that they have for you or accounts receivable that are in their contacts, or they can call the Terex main number (+1 203 222 7170) for assistance with verification. Replying directly or calling a number contained in a suspicious email may result in the customer communicating with the criminal, not Terex.

✓ Watch out for wiring instructions to a bank account belonging to an individual or a fake company. Terex will never ask an end-customer or sales-related third party to wire money to a bank account owned by an individual or a company other than the Terex entity in which the order was placed. A red flag should go up if the customer sees the name of an individual or an unfamiliar company in the instructions.

✓ Hackers prey on free email accounts. Free email accounts, such as Gmail, Hotmail, iCloud, Yahoo, and inbox.com are highly vulnerable to hacking because the accounts are not secure.

✓ Be alert for mistakes in Terex Team Member email addresses. Fraudsters often create and send emails that – at first glance – look legitimate. Example: joe.smith@terax.com or joe.smiht@terex.com. Scammers are counting on the customer not to notice these kinds of subtle changes.

Encourage your customers to call you directly if they receive a suspicious email, using the contact information they have for you on file – not the information provided in the suspicious email.