Banking Fraud – New version BEWARE

Banking Fraud – New version BEWARE

Please Read this – it could be you next!

We have been made aware today by one of our customers that last week their Finance Manager received an email from his Managing Director asking him to move a large amount of money to a number of bank accounts. Although not a usual request the manager was acting under the instructions of his MD and as the MD was out in meetings and site visits all day and could not be contacted he moved the funds as requested. Only to find this email was a spoof and the instruction fraudulent!

You may have heard similar cases in the news recently, mainly as a result of phone calls to you home regarding your personal bank accounts – normally informing you there has been some suspicious activity on your account or at your bank and that you need to move all your funds to another account ASAP.
There are variations on a theme but they will ask you to check the caller ID on your phone to make sure the number that shows is the same as the banks Fraud Department. This is not difficult to achieve now with VIOP. Another one was to demand the customer call their banks fraud department using the number on the back of their debit card, however the fraudsters just did not hang up so when the customer put the phone down and redialled the connection was still active and they were sure they were talking to their bank! This case was in the news over the weekend and apparently the fraudsters took over £750000 from multiple accounts – this too was a business.

Please be vigilant and very suspicious of any such requests – make sure you know your banks fraud department number and call from another phone or if in any doubt go to your branch and speak to a human.

Garry Moore

Managing Director
Genmar (UK) Limited
01279 758212

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