Payment Scams

Payment Scams are Targeting Businesses like Yours.

Criminals are sending emails and text messages that make it appear that your staff, suppliers or even bank officials are asking for payments.  If you don’t know how to spot these fake messages, your business could lose thousands.

These unauthorised push payment scams, in which people were conned into transferring money into other accounts, cost businesses a total of £145 million in the first half of 2018.

Don’t let your business add to these figures.

How The Scams Work

Fake Emails
It’s easy for criminals to fake emails so that they look like they’ve been sent by someone in your business, if they’ve hacked a business email account, criminals can even send emails from genuine business addresses without the account owner even knowing.

The emails ask for money to be paid into an account for reasons that may seem believable – but the account is controlled by the criminal.  Make the payment and the money will be stolen and, in all likelihood, unrecoverable.

Fake Text Messages
Text message fraud works in a similar way.  Criminals send text messages that look like they’re from your bank or provider – or they may even be inserted into a genuine text message conversation you’re having with your bank.

The messages ask you to call a number controlled by the criminal, who’ll then ask for your bank security details so that they can access your account – and steal your money.

Tips to Help Stay Safe Online
Fake emails and text messages can be hard to detect – they can look very realistic.  But there are some simple tips that will help catch most scam emails and text messages.

  1. Never hand out your full password or any other personal details to those who send emails asking for them and watch out for any sudden changes to your internet banking page.
  2. If you get an email promising riches, asking for your details or your online banking suddenly starts revealing all the passwords you type in, be wary and ignore the emails.
  3. If you get a payment request from a member of staff, supplier or client, check that the request is genuine by calling their number you have on file – don’t call numbers given in the message.
  4. Never transfer money to a different account for any reason. Check with your bank or provider that it is genuine message by calling them directly.
  5. Make sure to only access your online banking from devices you trust or over secure connections. Never login to your bank website through a link in an email, even if the email appears to have come from your bank.
    If in any doubt – call your Bank or provider.