Protection against invoice redirection fraud

The Banking and Payments Federation of Ireland (BPFI) has launched its FraudSMART customer transition media campaign with the aim of stimulating awareness that during the Ulster Bank and KBC Bank transition period, customers can expect criminals to make contact through scam emails, scam SMS messages, scam social media messages, or scam calls.

Invoice redirection is a type of fraud that businesses are susceptible to and with so much movement of accounts currently underway between banks, businesses need to be particularly vigilant at this time about protecting themselves from this type of fraud. A new information leaflet on Invoice Redirection fraud outlines the issue in detail and how business owners and employees can mitigate the threat of this fraud. The leaflet can be accessed here.