Fraud prevention

The DDF wishes to advise all customers to be aware of an increase in email and over-payment or “payment in error” frauds currently impacting Australian businesses.

Email fraud involves the fraudster hacking a business’s email address and doctoring either the body of emails and/or invoices as they are sent. Emails will simply note “please note the change of payment details” and provide alternative BSB and account details. Invoices will be changed to include the same message and will often mirror the same font & colour etc to appear legitimate.

Please ensure that, for all new suppliers and any existing suppliers whose account details have changed since the last confirmed payment, a call is made direct to the supplier to verify all details before processing the payment. As contact details can also be changed on the email or invoice, please also conduct a separate Google search of the business contact details where confirmed contact details are not already held.

Over-payment or “payment in error” fraud involves fraudsters making or instructing payments to a business’ account and then contacting the business to advise an incorrect payment amount was entered or the payment was made in error. They then request for funds be returned via account transfer.

If you receive any calls or emails requesting an over-payment or payment made in error be refunded via account transfer, do not action it. Advise the “payer” to contact their bank directly to request a recall of funds and wait for further advice which will come via the DDF. Under no circumstances should you refund the transaction via any other method.

Please note that whilst Australian banks are aware of these frauds, instances where all misappropriated funds have been successfully recouped are low. Funds are usually transferred internationally within the first 24 hours of receipt and are from that point untraceable. Accountability for confirming payment details lies with you as the remitter.

Should you have any concerns regarding the validity of any payments made, please contact the DDF on 07 4887 3090 ASAP to advise.