Fraud attempts on the Internet: A growing threat and how to protect yourself

The internet offers numerous benefits, including fast communication, simplified work processes, convenient shopping and access to a wealth of information. However, this digital world also harbours risks, particularly in the form of fraud attempts, which are becoming increasingly sophisticated and frequent. Fraudsters exploit the anonymity and vastness of the internet to deceive unsuspecting victims and steal financial or personal data.

The most common scams are

• Phishing: The classic Internet scam
• Online shopping scams: Fake shops and bargain traps
• Ransomware: digital blackmail
• Romance scams: Love on the internet as a trap
• Investment fraud and Ponzi schemes

In addition, there is now a new, perfidious variant: 

Fraud through fake emails with correct invoices

Fraudsters are now able to intercept and modify emails with correct invoices. You receive a deceptively genuine email with an invoice that you may have already received from your supplier. The email then points out that you should settle the outstanding amount by using new bank details, which you received a few days ago and is usually sent again in an attachment, to a different IBAN. The new bank details are included in the email, including the contact details which you should contact if you have any questions or uncertainties. 

If you call the telephone number, they will explain the reason for the change of IBAN and even apologise for the inconvenience, all in the local language.

THIS IS A REALLY WELL MADE SCAM

Unfortunately, some of our customers have already come into contact with this scam.  We therefore suggest that you adapt your accounts payable process. From now on, the supplier must always be contacted by telephone for new customer relationships and when changing bank relationships:

• Call the supplier directly, either via a number and contact person known to them or via the official telephone number on the website;
• Never use the telephone number given in the email;
• Ask the supplier to email you a bank document with the bank details;
• Abroad, your bank may already be able to verify your banking relationship. Unfortunately, we are not yet at that stage in Switzerland.

Conclusion

Unfortunately, due to the extremely professional fraud attempts, we have to fall back on almost analogue check methods/processes. Here too, please do not forget that telephone numbers and entire websites are being faked today and exercise even more caution. Under no circumstances should you ever accept urgent payments and unusual payment requests/confirmations.

We will be happy to answer any questions you may have.