Friday, August 22, 2014

Fraudulent bank transfers: new techniques of … – Capital.fr

Fraudulent bank transfers: new techniques of … – Capital.fr

The French companies have been stealing more than 250 million by crooks who conduct international transfers. Here are their techniques and countermeasures to implement. Individuals must also be very careful since the introduction of the SEPA standard.

Scams Alert! French companies are lagging prejudice to EUR 250 million due to fraudulent international bank transfers for which several legal proceedings are ongoing. This is what Jean-Marc Souvira, Senior Commissioner at the Central Office of the repression of the large financial crimes revealed in a video released by the FBF, the French Banking Federation, devoted to educating business leaders about the risks incurred.

According to the judicial police, scammers mainly use four techniques to get their way. The first question is based on the usurpation of the signing of a business executive, and by transmitting a false order to the bank. The second, called “the Nigerian” because the perpetrators operate from West Africa requires a fake mail informing of a change of coordinates. Thus, a company of Clermont-Ferrand was the victim of a con man who sent an email to the header of a subcontractor Asian advising that following bank failures, the payment of its next bill was to make another account. More formidable and incredible scam “the President” generates embezzlement of over one million euros each. A person goes to the phone to an accounting of the company by making happen to the CEO. It means that he is on the move and in urgent need of his services for a transfer to abroad for a confidential transaction (OPA, fiscal control …). For added credibility, the employee receives the coordinates of the account to be credited accompanied by an invoice on which is affixed a copy and paste of the true signature of the officer. Sophisticated scam that requires good knowledge of the company and its environment. Finally, the flaws of the standard SEPA (Single Euro payments Area) to facilitate payments within the euro area, are also used, including to defraud individuals. Thus, a company of Montpellier was contacted by a fake computer of a bank that has managed to convince someone to connect to a fake site, under the pretext of updates. The scammer then ordered transfers because with SEPA, the bank does not check whether the orders have actually been ordered by the company.

Given the increase in fraudulent, FBF, via his video, seeks to educate the leaders of companies. But it also reminds them that “transfers are irrevocable.” If a company (or individual) victim of such a scam does not react rapidly with its banker to stop the transfer, it will be impossible for him to get his due, if not the end of legal proceedings often long. What are the parades? First, raising employee awareness about unusual requests for financial movements and strict organization of the delegation of signatures. Then the SEPA system, if not ideal and requires banks to set up a list of allowed debtors to avoid any movement to unknown accounts (see article Fraudsters can now withdraw money your account very easily) now. A company (or individual) can add and remove from the list the partners with whom she works and effectively deny any movement towards a previously unregistered debtor. Unfortunately, this information is still insufficiently disseminated to clients

Sylvain Deshayes

LikeTweet

No comments:

Post a Comment