F E A T U R E
F E A T U R E
Are there any new trends businesses / organisations should be aware of when it comes to fraud ?
According to Action Fraud , the UK ’ s central reporting centre for fraud and cybercrime , one of the most common frauds businesses experience is payment diversion fraud .
This normally happens when a business or their supplier ’ s emails are compromised and can affect many types of businesses and organisations , including conveyancing and solicitors ’ firms , particularly during the completion stage on properties . Other ways in which this can happen is through spoofed emails which claim to be from a CEO . These are often addressed to the financial officer and ask for an urgent transfer .
To prevent this , businesses should ensure they have a means to query any change requests or spontaneous payments . Action Fraud advises solicitors that any payment instructions should come by letter rather than email and that secure platforms are used to exchange correspondence .
Another type of fraud frequently reported to Action Fraud by businesses is phishing . Fraudsters will pose as well-known companies in order to trick businesses into parting with information and money . To prevent this from happening , employees should check the source of their emails before passing on data which may lead to fraud .
Businesses need to be aware that phishing emails , calls and texts can also affect their customers , so that they can react appropriately . www . intelligentfin . tech
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