Protect your business
Fraudsters pose as a creditor or supplier and advise you their company’s bank details have changed.
- Often initiate the bogus instructions by email or on headed notepaper, including official logos, letterheads and signatures to look as convincing as possible.
- They will have often researched who to contact to request the change and which suppliers you use to make the request look as authentic as possible.
- The communication will ask you to make all future payments to a new sort code and account number.
- If the change of details is made all future payments to the supplier are made direct to the fraudster, and the original payment to the actual suppliers account will still need to be made.
Be vigilant, check and challenge any request to change account details.
Contact suppliers and creditors independently to check the request is genuine, use contact details you already hold or that have been obtained independently rather than any included in the request.
Once a payment has been made confirm with the intended beneficiary that it has been received.
Don’t make any changes to payment details until you are certain it is genuine, even if they are claiming it is urgent.
If you are a Bankline user, enable dual authorisation for payments and changes to payment Templates and Bulk lists so that any payments and changes have to be approved by a second user before the payment is sent or the changes take affect.