[Annual Policy Amendment – From AdeqHR Portal 8465]

This message is a likely phishing attempt using an HR policy/amendment lure and a QR-code-based multistage flow. The sender claims to be a Microsoft-based HR compliance system, but the message content impersonates an internal Adeq/Azdeq HR notice and instructs the recipient to scan a QR code to review compensation/policy updates and provide a digital acknowledgment. Deep analysis of the second PNG attachment extracted a QR code pointing to an external domain, horusalerts.com, with the recipient email embedded in the query string. Browser validation could not resolve the domain, so no live credential prompt was observed, but the overall pattern is strongly suspicious and consistent with QR phishing designed to move the victim to a mobile-hosted phishing flow.