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Don't Fall For The Invoice Scams

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Summary

How to make sure your company isn’t tricked into paying money to a fraudster

3 min read

If you or one of your employees received a letter or phone call from a supplier asking you to alter the bank account details you have on file for them, would you take it at face value? 

All too often companies accept seemingly genuine requests only to find out too late that it’s a scam. Fraudsters go to great lengths to trick companies into sending them money. They glean information from press releases and testimonials to make themselves sound credible, and copy logos from the internet to create realistic letterheads. But once the account details have been changed on your system, the next time you pay an invoice the payment goes straight into the fraudster’s account. 

“If you receive a request to change bank account details you should always be cautious. ”
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If you receive a request to change bank account details you should always be cautious. Get in touch with the company using contact details you have on record – not those in the letter you have just been sent – and check with someone you know that the request is genuine. And if it turns out to be fraudulent, make sure you report it to the bank.   

Key Takeaways

Coutts is warning businesses to be cautious when receiving requests from suppliers to alter their bank details. Fraudsters work hard to appear credible and trick companies into paying supplier invoices to them instead.

About Coutts Security

Your protection against fraud is our priority. We are committed to protecting your identity and your funds against fraud, and we work tirelessly to keep you informed of the issues you should be aware of in order to be vigilant.

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