Ireland's Publication for the refinishing & associated Industries

Gardai warn on electronic bank payment fraud incidents

Gardai are warning businesses and organisations involved in making electronic bank payments, that fraudsters are continually targeting this method of payment in a bid to secure funds under false pretences.

Gardai have earned that this type of fraud continues to be prevalent and a number of Irish organisations and businesses have been targeted in the recent past. The advice is targeted at all entities that are involved in paying invoices or requested to transfer funds to any new bank accounts be it within Ireland or elsewhere.
This type of fraud is being targeted at all sorts of organisations and businesses, regardless of whether they are financial institutions, very large commercial organisations or very small ones.

This also applies to Not for Profit Organisations (NGO˙s), State Bodies and private individuals. It is important to note that the attempt too defraud ranges from very small amounts of money to some cases where multi-million euros are involved.
An Garda Siochana advises that any request received electronically or otherwise, purporting to emanate from either internal or external sources, seeking to change payment arrangements should be verified verbally or through previously agreed lines of communication with the purported legitimate sender, and not by responding to the suspect communication.
Gardai would request that all staff involved in the payment of invoices to be made aware of this type of fraud;
1 To check and be aware of any request to change or alter payment details.
2. To review existing protocols in relation to the change of payment details, particularly where these requests are made in writing or by email.
3. All changes to payment details should be at least verified by phone or other means of personal contact to a known nominated person at the institution or company concerned on a phone number that the have verified as genuine.