A reminder that person-to-person contact when dealing with any out-of-the-ordinary money exchange has been sent out after a northern rivers business lost a large amount of money in a scam.
A local business appears to have had their email hacked and are now out of pocket for a six figure sum.
Business 1 recently completed a contract worth a very large amount of money. After sending the invoice via email to business 2, business 2 was contacted via business 1’s email account. Business 2 was told that business 1 had new banking details and the invoiced amount should be paid into the new account.
Business 2 then sent a six figure sum to the new bank account, thinking it was going to business 1. The money has gone to scammers.
Business 1 had their email account hacked. The hackers used business 1’s email address and sent business 2 their bank account details which the money was paid into. Detectives are investigating the matter.
Unfortunately this is not the first time this scam has taken place on the Northern Rivers, and it is one that businesses – large and small – need to be aware of. If you are regularly invoiced and the company you are paying email you claiming they want you to send the money to a new account, you really should contact them by phone or in person to confirm.
This has been going on for years now. In the case of Reale Estate Convayencers emails being hackef the banks accepted funds to fraudulent accounts because the account name is not checked in their processes. Regulators need to take action urgently to ensure the BSB Acct Number and Account Name all correspond.
Who is liable for the unpaid account now then?