Scammers pretend to be from a business you’ve used and send you an invoice with new payee information. The aim is to get you to redirect a legitimate payment to a scammer. You think you are paying for the products or services you ordered, when really you're sending money to a scammer.
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Warning signs it might be a scam
- You receive bills unexpectedly for services or products you haven’t ordered.
- A vendor or supplier's payment details change without notice.
- The email address or website has a spelling error, or is slightly different to what you normally see.
Steps you can take to protect yourself
- Stop and check any changes to payee information on invoices.
- Contact the business you normally deal with by phone using a number you have sourced independently.
- Check the email address. Scammers will sometimes add one extra letter or number to the email address so you think you are dealing with the real business.
False billing: John updated supplier details and it ended up costing thousands | Scamwatch
Scammers are getting more devious and sophisticated in the way they steal personal information and money from businesses and their customers.
That's because high value business transactions are a lucrative way for scammers to make money.
One of the most common scams affecting Aussie businesses and their customers is the payment redirection scam.
So, let's look at it together.
In this scam, you are deceived into thinking the email you're looking at is from a real business, possibly one you've been dealing with and have been expecting a payment request from.
That's exactly what's going to happen to Nico.
He's going to be asked to transfer large sum, the deposit of his new home, to his conveyance's account, and everything seems to be in order.
But one thing will be changed.
The bank details won't be those of his conveyancer.
They're the bank details of the scammer.
And when Nico transfers the money, it'll be gone.
So be very careful.
Things are not always what they seem.
Because the scammer is posing as a real business Nico's recently dealt with, the email is not unexpected.
Not only that, the email may also be in the same message thread as the last communication that took place with the real business.
Scammers can also copy business logos and ABNs, making the scams even harder to spot.
These scams can apply to any type of high value business transaction.
For example, deposits for luxury travel or buying cars.
The upshot is you don't notice anything is wrong until later when the real business contacts you and ask for the money.
So the only way Nico can identify whether he's being scammed would be to stop and take the time to call the business he's dealing with.
So stop Nico before it's too late.
Now, double check the payment details are correct by using the contact details you found from the business' official website or secure app.
Don't use the contact details in the email as they might have been changed by the scammer.
Great call, Nico.
You've checked and avoided being scammed.
It's also important to be aware there are other scams out there that impersonate businesses and look legitimate,
like fake billing scams where you receive an invoice for goods and services from a regular supplier that you didn't order.
And finally, you should protect yourself.
Act quickly if you suspect you've been scammed.
Cut ties with the scammer and call your bank immediately to stop any further losses.
And report scams to Scamwatch.
Your report will help us to protect others.