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SME’s targetted in invoice fraud – the warning signs

Recently small and medium businesses have been targeted in invoice fraud scams – and local businesses should be cautious.

We understand that businesses e-mail traffic is being targeted and scanned for payment details. These payment details may be intercepted, the payment details replaced with a bank account accessible by the fraudsters and the final amounts altered before continuing to the intended recipient. As it can take some time for this to be detected there is potential for money to be quickly moved out of the UK and beyond the reach of banks.

Additionally incidents of cyber-criminals issuing e-mails notifying businesses of a change of payment details for suppliers, seemingly from that supplier, have also been reported. If you are unsure about anything it is best to call that supplier.

Any local businesses who has been targeted by invoice fraud should report the incident their bank, the police and Action Fraud, the National Fraud & Cyber Crime Reporting Centre on 0300 123 2040.

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