This type of fraud continues to be prevalent and a number of Irish Organisations and businesses have been targeted in the recent past.
This advice is targeted at all entities that are involved in paying invoices or requested to transfer funds to any new bank accounts be it within Ireland or elsewhere.
This type of fraud is being targetted at all sorts of organisations and businesses, regardless of whether they are financial institutions, very large commercial organisations or very small one’s. This also applies to Not for Profit Organisations (NGO’s), State Bodies and private individuals. It is important to note that the attempt too defraud ranges from very small amounts of money to some cases where multi-million euros are involved.
An Garda Siochana advises that any request received electronically or otherwise, purporting to emanate from either internal or external sources, seeking to change payment arrangements should be verified verbally or through previously agreed lines of communication with the purported legitimate sender, and not by responding to the suspect communication.
Gardai would request that all staff involved in the payment of invoices to be made aware of this type of fraud;
1 To check and aware of any request to change or alter payment details.
2. To review existing protocols in relation to the change of payment details, particularly where these requests are made in writing or by email.
3. All changes to payment details should be at least verified by phone or other means of personal contact to a known nominated person at the institution or company concerned on a phone number that the have verified as genuine.
Please see attached Advice sheet here
Previous release is issued below.
Garda Press Office
The Garda Bureau of Fraud Investigation has recently detected a pattern of criminal activity that has the potential to cause serious financial losses to Public / Private Businesses.
Up to 14 cases have been reported to date, with potential losses of over €5m, however €100k has been stolen. A number such bodies based around the country have received fraudulent instructions in the recent weeks via Email or letter which instructed them to record new account details for their various clients. There is no pattern in the fraudulent account details as they involve different financial institutions in both Ireland and the UK.
As a result of the various businesses having received these fraudulent instructions, these businesses transferred money to the various bank accounts in payment of due debts. However due to the vigilance of the various financial institutions, most of the money was either prevented from having been sent in the first instance or recovered.
The Garda Bureau of Fraud Investigation now request that all businesses conduct an immediate review of any instructions that they have received from customers involving a request for a change of account details. As a security precaution it should be confirmed by verbal contact with the relevant financial control person in each business that purportedly sent change of account instructions as to whether they were genuine instructions or not.
Where any business suspects that such an attempt was made or indeed where they have received such a request they should immediately contact their local Garda station and their bank.
The Garda Bureau of Fraud Investigation are liaising closely with the Banking and Payments Federation of Ireland, please see attached crime prevention advice.
Please see attached link for Invoice Redirection Fraud Alert Advice Sheet.
Advice sheet - http://www.garda.ie/Controller.aspx?Page=14738&Lang=1