Businesses are increasingly the targets of banking crooks. With damage estimated to date to 250 million euros, governments and professional organizations derive the alarm signal.
16% French companies claim to have experienced at least one fraud attempt in 2013 this figure is the result of an internal study on the banking sector released today. Larger SMEs are the favorite targets of scammers. In fact, one in two businesses with between 500 and 1,000 employees and has a turnover of over 75 million euro business said he was the target of an attempted fraud. A figure that falls between 10 and 15% for smaller companies. Another phenomenon if these frauds affect all sectors without exception, they frequently seek trade, due to the large number of transactions in this sector.
Three types of fraud are all the rage
Fraud international transfers can take many forms, as shown in an information note issued by the Regional Service of Judicial Police Clermont-Ferrand (SRPJ). The first of them is called “Nigerian scam”, because of the location of scam crooks operate out of the West African coast. They divert transactions between French companies and their Asian suppliers. Their method: send emails to companies making happen for the supplier. Fraudsters then speak of “bank failures” and hope that the next transfer to be made on a “more secure” account, which will then straight into their pocket.
Another technique is that of fraud “scam the president” or scam “to fake boss.” According SRPJ Clermont, this method is “the most dangerous”. Scammers require transfers of a company responsible for making them happen CEO. As described SRPJ, this scam requires “a natural authority, a plumb and, it must be admitted, a gift for comedy.” A gift that entails many tricks. According to Les Echos , the first is to emphasize the urgency of the request in the case of a future tax audit of a takeover bid or otherwise. Scammers do not lack imagination. The second, called “social engineering” is to perform a collection of information about the company via social networks to adopt the code. And adds to the realism tip a touch of flattery. As indicated SRPJ, trickery is more likely to work if the accountant of the company feels “flattered to be in the confidence of the boss.” This method does, however, that few victims of the far more formidable because it emanates from perfectly organized gangs. For small businesses, the most common methods of fraud, however, are those related to everyday actions, such as fraud on the fly or misused credit card.
Finally the last trick in fashion is one that benefits from SEPA standard, the single European payments area. Scammers are then passed to the IT manager of the bank where the accounts of the target company. They then manage to convince the listener of the company to perform a series of tests and, remotely, they take control of the computer and make transfers directly to their bank account. This technique is made possible by the Sepa system whereby the bank no longer has to worry about the customer’s consent before making a transfer. However, it may challenge the transaction if it finds an abnormal transfer.
60% of companies are satisfied with the response from their bank
While these three techniques are the most prevalent, fraudsters do not lack imagination to defraud businesses, in many cases, will not be reimbursed the amounts stolen. Once the transfer is done, they can indeed contact their bank, but schools can not interfere in the payment orders. However, companies are mostly satisfied with the response from their bank to the tune of 60%. This percentage decreases for small businesses with fewer than 20 employees but spends 80% for large companies. This figure also depends on the bank chosen by the company, satisfaction rates are indeed higher for those who opt for a commercial bank in relation to a mutual bank.
To fight against these fraud, the French Banking Federation (FBF) announced she would meet soon with representatives of the police and justice, his Chinese counterparts, a country from which a large number of fraud. For now, she said in a video that “several hundred procedures are underway within the judicial police” for an amount of damages that amounted to “more than 250 million euros.”
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