0:00What is the most damaging trade payment fraud?
0:03It is not a fake supplier at all.
0:06A genuine supplier's email or invoice is intercepted.
0:10Fraudsters insert changed bank account details into an otherwise real
0:15conversation.
0:17And you pay the wrong account.
0:20Always verify bank details before sending any payment.
0:24Verify them by phone,
0:26on a number you already had on file,
0:29not one given in the same email that changed the account.
0:33And be suspicious of any last-minute message announcing new banking details.
0:39Set up a simple routine for anyone in your business who sends international payments.
0:45A second person confirms the destination account against a previously verified
0:51record before any transfer goes out.
0:54Every time, regardless of how routine the payment feels.
0:59Verify by phone.
1:01Every time.