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18 June 2020 – Please Exercise Caution: Fraud / Hacking

Dear Members

The mail below was received from one of our members. Please take note of the following as you may be at risk.

  1. Companies that use an email address ending in ‘.com’ are at risk of being hacked and this address altered to ‘.corn’ which is used to persuade the unwary that they are communicating to a supplier that they know and trust. It’s actually quite difficult to see this on email address lines.

So this looks as though the customer is getting  a genuine message from the supplier, but if this is checked by replying to  the fake message there is no response because the message is undeliverable. Remedy is to change the password and to check with the site to see how seriously your email is compromised

  • A fake request is sent from a supplier asking that the funds owed should be directed to a different bank account “because the usual one is under audit”. The new account is with a different bank. Always check this info with the fund recipient immediately before doing anything like this and ask if  this is correct.
  • Do not rely on the banks to check whether the new account is verified through a genuine ID. They should but they don’t. So the  funds get transferred into an account with no verified account holder, and get transferred out to other accounts very fast, and therefore become unrecoverable.
  • If this does happen, get a lawyer, as the bank won’t give out any info on this without being subpoenaed.

The fraudster will know all about the customers financial transactions and will choose a transaction that is substantial.

Please contact me urgently should you have had such an experience.

Regards

Lorna Lloyd