FRAUD WARNING - don’t get caught out.
Our accounts department recently received a telephone call and email requesting we submit details of all outstanding invoices appertaining to one of our clients. The person on the phone was very composed and sounded genuine. Equally the supporting email had been well designed to convey it was from a reputable large organisation. Fortunately our policies and procedures held fast and a vigilant member of our accounts team noticed the email address was not consistent with the organisations normal email format and informed the respective client’s accounts department.
The same client also received an email asking them to change our bank details to a new account, clearly an account set up by the fraudster. The email was accompanied with a very authentic looking made up 2020 Vision letter confirming the request. A telephone number and name were also included, which the client contacted. Again it was answered by a very convincing person appertaining to be someone they clearly were not. Thankfully, the client contacted us, so no actual fraud took place.
The incident is being investigated by the Police and has been forwarded to Trading Standards who advise:
This is a type fraud that we are aware of and action is being taken, please follow the advice below to minimise the risk to yourselves.
• Verify ALL changes of bank details requests via known contact details on your system or by contacting the main switchboard of the company following an internet search
Our accounts department recently received a telephone call and email requesting we submit details of all outstanding invoices appertaining to one of our clients. The person on the phone was very composed and sounded genuine. Equally the supporting email had been well designed to convey it was from a reputable large organisation. Fortunately our policies and procedures held fast and a vigilant member of our accounts team noticed the email address was not consistent with the organisations normal email format and informed the respective client’s accounts department.
The same client also received an email asking them to change our bank details to a new account, clearly an account set up by the fraudster. The email was accompanied with a very authentic looking made up 2020 Vision letter confirming the request. A telephone number and name were also included, which the client contacted. Again it was answered by a very convincing person appertaining to be someone they clearly were not. Thankfully, the client contacted us, so no actual fraud took place.
The incident is being investigated by the Police and has been forwarded to Trading Standards who advise:
This is a type fraud that we are aware of and action is being taken, please follow the advice below to minimise the risk to yourselves.
• Verify ALL changes of bank details requests via known contact details on your system or by contacting the main switchboard of the company following an internet search
• DO NOT use contact details on any letter received to alter bank account details
• Ensure that any new staff are made aware of the control process as we have heard of losses purely down to new starters in finance teams making errors
• Finance teams should be particularly aware of any requests to alter bank details which are received from their large creditors – we suggest an ‘at risk list’.
• Do not give out details over the phone unless you have verified the legitimacy of the caller.
Should you become the target of this type of Fraud log your complaint with Actionfraud
2020 Vision keeping you in the picture; you have been warned.
