The Objective

Disguised as employees of an established supplier, fraudsters attempt to manipulate the bank account details stored in your system. Their goal: to divert future payments away from your legitimate business partner and directly into their own accounts.

How the Scam Works

Criminals contact you via email or phone, posing as known points of contact, or they compromise supplier portals.
Thanks to AI-driven tools, these attacks are becoming increasingly sophisticated. Gone are the days of obvious typos; today, email signatures, company logos, and even the writing style appear perfectly authentic.

Red Flags to Watch For:

• Sudden Changes: Notifications about new bank details arriving just before an invoice is due.
• Subtle Discrepancies: Tiny typos in the email domain (e.g., .co instead of .com).
• Urgency & Pressure: Fraudsters push for immediate payment to prevent you from performing a thorough check.
• Foreign IBANs: The new account is often located abroad, even if the supplier is based domestically.
• Inconsistent Documents: Manipulated invoices or letters may use unusual fonts or show layout glitches.

Prevention: From Tedious to Instant

In the past, verifying bank changes was a manual, time-consuming process involving follow-up calls or requesting signed confirmation letters by post.

Today, security is seamless. With an automated IBAN-Name-Check, you can instantly verify if the new IBAN actually belongs to your supplier. Within seconds, you gain the certainty needed to process the payment safely.

The Solution: alseda PreVOP – Pre-Verification of Payee

Protect your cash flow efficiently and shield your company from costly fraudulent transfers.

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Please contact us for further information at infomail(at)alseda.com