It’s not hard for fraudsters to find out business invoice details (even down to payment dates) and then pose as regular suppliers. If a supplier contacts you to make a request for their bank account details to be changed, always check it with the supplier using their on-file details. It’s important that everyone in your business is aware of the dangers of invoice fraud, and that they know to always check invoices to identify potentially fraudulent transactions.
If you receive an email from your CEO or another senior member of staff asking you to make an urgent payment outside of normal procedures, don’t automatically follow their lead. It’s become very easy for fraudsters to manipulate the characteristics of an email, including the sender address, so that it looks genuine. But when you transfer the money, it goes straight to an account controlled by a fraudster. Keep an eye out for any emails that might be written in a different style to usual, and always check any unusual payment requests directly, ideally in person or by telephone, to confirm the instruction is genuine.
The campaign is aimed at everyone, even you as a consumer, so take a look at the Take Five website www.takefive-stopfraud.org.uk/ for more information on financial fraud and tips on how remembering to Take Five can help prevent it.
What to do if you think youre a victim
If you think there has been fraud on your card or bank account – or if you suspect someone has attempted to compromise your financial details – report it immediately to your bank or other financial services provider and then contact Action Fraud on 0300 123 2040 or at actionfraud.police.uk.
Take Five is a national campaign that offers straightforward and impartial advice to help everyone protect themselves from preventable financial fraud. This includes email deception and phone-based scams as well as online fraud – particularly where criminals impersonate trusted organisations. Led by Financial Fraud Action UK (FFA UK), it is being delivered with and through a range of partners in the UK payments industry, financial services firms, law enforcement agencies, telecommunication providers, commercial, public and third sector. Visit: takefive-stopfraud.org.uk for more information about Take Five and which partners are involved.