Fraud can come in all shapes and sizes, but normally we can distiguish between scammers and fraudsters.

A scammer will typically pose as a supplier offering goods or services, creating a website or setting up a bogus company to maintain this facade. They will communicate with their victim - perhaps even for an extended period of time - convincing them to make ultimately make a payment.

Once payment is received, the scammer will stop all contact and the goods/services are never received.
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Fraudsters use hacking or social engineering tactics to gain unauthorised access to genuine suppliers' email accounts. They may even monitor email communications between both parties to gather information.

Typically, they lurk in the shadows, observing entire conversations until the right moment to request sensitive bank details. With the information they have collected, they can potentially convince unsuspecting customers to authorise fraudulent payments, a method known as Authorised Push Payment (APP) fraud.

To execute APP fraud, scammers often create spoofed email accounts that impersonate legitimate individuals or organisations. When a payment request is sent, the victim may overlook the subtle differences in the email address, leading to funds being sent to the fraudulent account.

To commit APP fraud, scammers use social engineering to convince their victim that they are a legitimate entity. This often results in the victim authorising a payment to the scammer, believing that they are paying the legitimate entity.

Modus operandi for APP fraud normally follows one or more of the below scenarios:

Fraudsters will typicall state reasons such as "our bank account is going through an audit" or "this is a our new account which is cheaper for us".

This could suggest that their email account has been compromised. Double check the email you are communicating with - it should be the same as usual if you already maintain a relationship with them. We recommend confirming new bank details via a trusted telephone number.

Documents containing blurry images, bad spelling and grammar, and overall format discrepancies can be one way of picking up on a fraudster

This could mean nothing - but it could also mean you're falling for a scam. Recently created websites could lure you into being convinced, but if you are still unsure, try sending them a smaller payment and ask for the good in exchange.

If a supplier is putting you under undue pressure and are expressing a weird form of urgency, or the supplier's tone is not what it normally is, make sure to stop and double check everything before proceeding. You won't lose a supplier for sending a payment a day late, but you could lose a lot of money for sending it a day early!

Whenever your suppliers change email address, bank details should be double checked via a trusted telephone number.

Be especially vigilant to tiny changes like a "double n" for an "m" (nn - m), as this is a clear sign of email spoofing.

If a deal sounds too good to be true...

If you think you have fallen victim to fraud, email fraud@ebury.com and report it to your local law enforcement and/or fraud reporting agency.

For further assistance feel free to contact Ebury support directly via live chat or at the below email addresses: