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Don't fall for the 'there's a problem with our bank account' scam!

Picture the scene...

You're busy working away and spot an email from one of your subcontractors or suppliers asking if you can make the payment for their latest invoice into a different bank account as they are having a few issues with their usual account due to the Covid-19 situation. It's from your usual contact and has their standard email footer, formatting and such that you would expect so no suspicions at first glance.

But... Do not under no circumstances do as they ask. Do not change the bank account details you have on file and pay the invoice as requested - it is almost certainly a scam.

How you could fall victim

Hackers are currently using this sophisticated approach, which starts with them illegally accessing a business email account and pretending to be someone you know. They can make the emails appear genuine, but what you may notice is that the language, sentence structure and tone is different. And you might also spot a few typos.

We know this scam happens because we have seen two attempts of this kind in recent months - neither of which succeeded. If they had, however, money would have been paid to a total stranger and the liability for the actual payment to the subcontractor would remain. The thing to do is pick up the phone to your subcontractor or supplier and seek clarification. Chances are they will know nothing about it! This enables them to change the email password and recover their account before too much damage can be done.

Be extra vigilant during these uncertain times

The Covid-19 pandemic has brought out the best and worst in people - sadly, fraudsters have seen an opportunity to capitalise on the turmoil and uncertainty in new and inventive ways.

It is not just businesses, of course who, are being targeted. As consumers we face a far bigger range of threats as a recent article by Action Fraud highlighted. Three of the nastiest scam approaches they flag up are:

• Criminals sending fake government emails designed to look like they are from government departments offering grants of up to £7,500. The emails contain links which steal personal and financial information from victims.
• A scam linked to the NHS Test and Trace service, which is particularly cruel. Criminals are preying on an anxious public by sending phishing emails and links claiming that the recipient has been in contact with someone diagnosed with Covid-19. These lead to fake websites that are used to steal personal and financial information or infect devices with malware.
• Criminals sending fake emails and texts claiming to be from TV Licensing, telling people they are eligible for six months of free TV license because of the coronavirus pandemic. Victims are told there has been a problem with their direct debit and are asked to click on a link that takes them to a fake website used to steal personal and financial information.

How to report scams and protect yourself

We would urge you to be extra vigilant and share information about scams with friends and family as soon as you become aware. If a scammer does try to attack you, report it immediately to Action Fraud.

It is also important that your IT infrastructure is secure, and that passwords are strong and changed regularly - as annoying and inconvenient as this can be, it is one of the best ways to stop you losing out financially!