Meet the Fraudsters

Get Safe Online has teamed up with Lloyds Bank to raise awareness of impersonation fraud for small and medium businesses.

Posted on 7 September 2018

Research commissioned by Get Safe Online and Lloyds Bank has shown that:-

  • Impersonation fraud is costing victims an average of £27,000 each time.
  • The number of attacks has risen by 58% in the past year alone.
  • Over half (53%) of respondents say they have experienced scammers posing as their boss, demonstrating a rise in the popularity of CEO impersonation fraud.
  • A similar number (52%) say they have experienced invoice fraud - a rising scam where fraudsters pose as known suppliers to the company and send an invoice with a false change of bank account details.

A video, using celebrity CEO lookalikes, demonstrates the ways in which scammers impersonate suppliers, bosses or business contacts to dupe victims into making payments to them, instead of the legitimate contact.

We’ve teamed up with experts at Get Safe Online to bring you some top tips:-

  • Be on your guard for payment requests that are unexpected or irregular, whatever the amount involved.
  • Always verify requests for changes to account details with the requesting organisation, using the telephone number you know to be authentic, before making the payment or updating the details in your payments system.
  • Email is not a secure method of communication. Genuine email trails can be hacked, and payment details changed. If you receive an instruction via email, double check by telephone, in person or use other trusted communication.
  • If a request for an irregular payment, or amended payment details, appears to come from a senior manager or other colleague, double check with them directly, either in person or on a number you know is authentic. If they are not available, check with another senior colleague.
  • Beware – fraudsters can impersonate your bank, supplier or other trusted organisations by email, letters, telephone or text. Always double check account details before you make a payment and never reveal your passwords, confidential information or card and reader codes.

Find comprehensive, easy-to-follow advice about online safety at www.getsafeonline.org/fraudstars