Email Scam – A Warning for our Customers
We are getting an increasing number of people contacting us about a new email scam in which fraudsters are impersonating senior colleagues within an organisation, such as the finance director or chief executive, and tricking staff within finance departments into transferring money.
These emails are looking increasingly authentic, with fraudsters doing everything possible to make them look genuine, but please don’t be fooled. According to a recent press release from Financial Fraud Action ‘Fraudsters use software which manipulates the characteristics of an email, including the sender address, so that it looks genuine. This means the spoof email appears in the recipient’s inbox in just the same way as a regular email from the same contact.’
The emails usually ask that you urgently transfer money into the bank account detailed, which is controlled by the fraudster. Once the payment has been made into the account, the money will quickly be withdrawn.
These requests are often outside of normal company procedure or policy, and will give a reason as to why it is so urgent, such as securing a contract or paying a deposit.
We know that an urgent email from a senior colleague will usually get a quick response, but it has never been more important that finance teams check any unusual demands for payment and try to spot the warning signs of a potential scam before making payment.
Advice from Financial Fraud Action on avoiding this scam:
- Always check any unusual payment requests directly, ideally in person or by telephone, to confirm the instruction is genuine. Do not use contact details from the email.
- Establish a documented internal process for requesting and authorising all payments and be suspicious of any request to make a payment outside of the company’s standard process.
- Be cautious about any unexpected email which request urgent bank transfers, even if the message appears to have originated from someone from your own organisation.
- Ensure email passwords are robust
- Consider whether the email contains unusual language or is written in a different style to other emails from the sender.
If you have any doubt please speak to one of our support team 01246 861100 or by email firstname.lastname@example.org
Report any fraud to Action Fraud by calling 0300 123 20 40 or at www.actionfraud.police.uk
More information can be found HERE or you can report the Fraud here by clicking the icon