Criminals are becoming increasingly savvy and sophisticated in their attempts to defraud companies. One common scam is to monitor emails and, when payments are due, send their own email that looks and feels like a genuine message from the company. They tell you that the bank details for your payment have either changed or provide non-genuine details for initial payments to suppliers. To avoid falling victim to such scams, it's important to stay vigilant and follow our simple steps to ensure that your transactions are secure.

Here are our top tips for conducting secure transactions with Moneycorp:

1. Always verify new or updated banking details.
2. Know your company's cyber security plan.
3. Don't take action on requests to amend banking details. 
4. Watch out for spoofing.
5. Don't click on unsolicited emails or text messages.
6. If in doubt, pause, question, and protect.

1. Always verify new or updated banking details.

If you're asked to update the bank details you have for a supplier, or if you receive new bank details to pay an invoice, always call a contact you know at the supplier or vendor to verify that the request is real. Don't reply to the email or use the details they send you. Instead, get in touch directly, by phone, with someone you already know and trust from your supplier or vendor.

2. Know your company's cyber security plan.

Make sure you have an internal reporting procedure and invest in antivirus software to keep your devices and emails secure. If an email scam has been identified, make sure you know what steps to take and how to respond to these suspicious emails.

3. Don't take action on requests to amend banking details. 

If you receive a request to change your banking information for loading funds to your Moneycorp account, please do not take any action. Instead, call Moneycorp immediately on a known or verified telephone number.

4. Watch out for spoofing.

Scammers often try to make their communications look convincing by imitating the appearance of legitimate emails and websites. Look for small details that don't look right, such as misspellings or slight variations in the email address or website URL. If in doubt, contact the company directly to verify the request. 

5. Don't click on unsolicited emails or text messages.

Scammers may send unsolicited emails or text messages asking you to update or verify account information. Look up the company's phone number on your own and call the company to ask if the request is legitimate. 

6. If in doubt, pause, question, and protect.

Always be suspicious of any request that seems unusual or out of the ordinary. If you're unsure about a request, take a step back and think carefully before taking any action. 

It's important to remember that companies rarely change their banking details. Always question changes in payment information and verbally confirm email requests to change or add banking details. For first payments to new suppliers, send a small test amount and check on a trusted number that payment has been received.

By staying vigilant and following these simple steps, you can help protect your company from financial fraud and avoid falling victim to scams. Remember, if in doubt, always err on the side of caution and take the time to verify any request before taking action.

If you want to learn more about security and how to protect yourself from fraud, visit the Security Zone section on Moneycorp.com.