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Republic of the Philippines
National Police Commission
PHILIPPINE NATIONAL POLICE
ANTI-CYBERCRIME GROUP
Camp BGen Rafael T Crame, Quezon City
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

ACG-CYBER SECURITY BULLETIN NR 195: Beware of Payment Redirection Scam

Reference Number ACG-CSB 082820195

The following information was obtained from different cyber security sources for notification to all parties concerned pursuant to the mandate of the Philippine National Police Anti-Cybercrime Group (PNP ACG) and classified as “Restricted” pursuant to the PNP Regulation 200-012 on Document Security and Impact Rating as high based on PNP Information Communication Technology (ICT) Security Manual s.2010-01 p. 22 and p.129.

SUMMARY

Payment Redirection Scam 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 fraudster 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.

More sophisticated is the fraudster deploying the hacker’s toolkit: the use of phishing, malware and viruses, to enable access to and control over email accounts. Hackers are looking to gain access to your computers and data, capture keyboard strokes (potentially compromising passwords on other systems) or intercept network traffic. Successful infiltration of your or a third party supplier’s computer systems may allow a fraudster to give or manipulate payment instructions by email so they appear to come from an authorized person.

Transferring funds to a business’s account, closely scrutinize the invoice and query any changes to ensure that the payment is going to the correct account. If you receive a payment request that seems unusual or an email request to change bank account details, get verbal confirmation before making the payment.

RECOMMENDATION

All PNP personnel as well as the public are advised to follow the tips in order to avoid the dangers of  Payment redirection scam, to wit:

  • If a company requests a change of payment details, always follow simple verification steps before making payments
  • Ensure that your employees are aware of this type of threat and how to avoid it
  • Fraudsters may change an email address to make it look as though it has come from someone you are used to dealing with. Always check email addresses carefully
  • Verify the change by contacting a known contact in the company directly, using contact details held on record, or by using a phone number displayed on the company’s website. Links or contact details contained in the email or letter requesting the change could be fraudulent. Don’t use them
  • Educate your staff and customers about the importance of being aware to hackers, scams and cybercriminal activity that could affect your business
  • Secure your email, accounting and other systems with two factor authentication.

For additional information, please refer to the following websites:

  • https://www.bankofireland.com/app/uploads/assets/OMI015206-Invoice-Redirection-Brochure-and-Email-ROI-DL-FA_DIGITAL-1.pdf
  • http://www.lawgistics.co.uk/read-news/1325#sthash.R27QduWK.dpbs
  • https://www.regionalaustraliabank.com.au/the-inside-story/articles/invoice-redirection-fraud
  • https://xneelo.co.za/insights/how-to-spot-payment-redirection-scams/
  • https://www.regionalaustraliabank.com.au/the-inside-story/articles/invoice-redirection-fraud

POINT OF CONTACT

            Please contact PMAJ JOSEPH ARVIL L VILLARAN, Police Communication Relation officer thru e-mail address This email address is being protected from spambots. You need JavaScript enabled to view it. or contact us on telephone number (632) 7230401 local 3562 for any inquiries related to this CYBER SECURITY BULLETIN.