How this scam works
The scammers reach out to the company either by phone or by email. They claim to represent a supplier or service provider and request a change in the bank account details where payments are made. The new account belongs to the scammers.
How to protect yourself
If the company is yours, you must:
- Make sure your employees have been informed and are aware of this type of scam.
- Implement a specific payment protocol and a specific process for verifying payment requests.
- Ask the personnel responsible for payments to check for any irregularities.
- Screen and limit the information posted on your company's website, and make sure your personnel follow the same rules for social media posts.
If you work for the company, you must:
- Verify that all payment requests originate from actual suppliers. Be particularly cautious if you are asked to change any payment details.
- Establish a specific process for verifying the bank account and recipient details, for payments over a certain amount (e.g. by contacting the supplier).
- Send the payment recipient an email, stating the bank name and last 4 digits of the bank account.
- Use the contact information from your previous correspondence with the supplier.
- Limit the information you post about your employer on social media.
Learn more about invoice and mandate fraud .
