We are hearing of fraud involving invoices being intercepted and bank details replaced more often.
Funds being recovered – haven’t heard of a single case.
How can you protect yourself?
Save bank details of your suppliers in your accounting system (with limitations on who can make updates) and use the saved details to make payments. If banking details need to be updated, speak to someone you know over the phone. If a hacker is in the email system, emailing will not be helpful.
Be wary of URGENT requests to make payments – even if it looks like it comes from someone you know.
And the obvious – don’t share your bank login details with anyone.
