B2B Payments

MYOB Name Used For Another Email Invoice Scam

Australia-based SME accounting company MYOB has reportedly been affected by a malware scam involving fraudulent invoices. The scam sees attackers using the MYOB name to send malware and fraudulent invoices — the second time such an attack has impacted the company in 2017.

Rmail security company MailGuard first reported the malware, which is sent via email, last week. The emails, which aim to trick recipients into thinking they're invoices sent by business partners, reportedly say "Powered by MYOB."

The invoice is sent from the "noreply@financialaccountant.info" email address, and the message includes a "View Invoice" link containing malicious software in a .zip file. The attack affects computers running Windows, reports said.

"By targeting popular brands, recipients are more likely to have a relationship with the company being impersonated," MailGuard explained in its post. "That's an instant foot in the door."

Because these emails are already so widespread, more businesses are at risk as the email affects a larger number of supplier partners, according to reports.

Weeks ago, MailGuard reported another round of similar attacks also using the MYOB name to convince email recipients to click on the malicious link. That attack involved scammers sending invoices ranging from $6,300 and $6,400, and even included links to the actual MYOB website. Those emails were sent from the myob-australia.com domain, which is not affiliated with the actual cloud accounting company.

MYOB has had no involvement in this attack, reports have emphasized.

Earlier in 2017, MYOB reached a deal to acquire Paycorp, a corporate payments company, for approximately $37 million as it looks to expand offerings to its corporate customers. At the time, MYOB said the acquisition made it the first company in Australia's corporate accounting market to offer an integrated payment solution.

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