A rising corporate identity scam is targeting businesses across multiple industries, using fake purchase orders and stolen credentials to steal expensive equipment. According to Proofpoint researchers, fraudsters are posing as procurement agents from real companies to trick suppliers into sending high-value goods—without payment.
These attacks rely on social engineering and Net financing—a system that lets buyers pay within 15–90 days. By the time anyone notices, the goods are long gone.
How the Scam Works
Fraudsters start by impersonating a legitimate business. They gather publicly available data like:
- Employer Identification Numbers (EINs)
- DUNS numbers
- Real employee names and addresses
- Company branding and logos
Using this information, they create convincing email accounts—either free inboxes or lookalike domains. Once they appear credible, they ask for a quote on expensive items. These often include:
- Satellite phones
- Network switches and routers
- Marine GPS devices
- Fluke testing equipment
- Surveillance cameras
- High-end computers and medical gear
Once a supplier replies with a quote, the scammers send documents to initiate Net financing—complete with forged business licenses and incorporation papers. Then they push to rush the shipment.
Delivery Deception
Scammers avoid giving a shipping address too early. Once goods are confirmed, they provide a drop point like:
- A rented warehouse
- A shipping forwarder
- A residential address used by a money mule
Proofpoint says many of the goods are sent to West African countries like Nigeria and Ghana using third-party forwarding companies. These businesses likely have no idea they’re helping criminals.
Some scammers even split orders or accept partial shipments to speed up delivery. Others delay confirmation until their mule is ready on the ground.
Real-World Examples
Proofpoint researchers engaged with scammers directly and uncovered dozens of fake domains like:
novartispharmaceuticalscorp[.]commagnetek-inc[.]comamericaninstituteresearch[.]orgabec-electricinc[.]com
Their efforts helped take down 19 scam domains and prevent several fraudulent deliveries.
The research also revealed that scammers rent temporary warehouse spaces—typically 10’x15′ or 15’x20’—across the U.S. These pop-up operations vanish before victims realize what happened.
Protecting Against This Scam
Businesses are urged to stay alert when receiving Net RFQ (Request for Quote) inquiries. Proofpoint recommends:
- Always verify the sender’s domain
- Double-check EINs and DUNS numbers
- Avoid sending goods before confirming legitimacy
- Call the company using a phone number from its official website
- Watch for urgency tactics and vague shipping details
Social engineering isn’t just a phishing link anymore—it can be a seemingly professional quote request.
Conclusion
The corporate identity scam is a high-stakes reminder that not all cyberattacks come through malware. Sometimes, all it takes is a fake logo, a convincing email, and a sense of urgency to walk away with thousands in stolen goods. Verification and caution remain your best defense.
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