Payment redirection fraud is where fraudsters pretend to be a supplier or service provider for your business in order to trick you into changing bank account payee details. They contact you to tell you that their bank account details have changed and to ask you to send all payments to a new account. This is an account controlled by the fraudster.
- The fraudsters may write to your company’s finance or payments department either on forged headed paper or by email, pretending to be one of your suppliers.
- Typically, they tell you that their account details have changed.
- The payee account may be located either in Ireland or overseas.
- The fraudster may ask an employee in your company to either send a pending payment to the new account or, alternatively, to ensure that all future payments are sent to the new account.
