Last year when I was on leave, my office received what appeared to be a genuine email from myself requesting the transfer of funds via EFT. The email was a scam.
At a recent solicitor's trust account audit training I was made aware of how sophisticated and genuine these scams have become.
A Melbourne solicitor's emails were being captured by a fraudster and being redirected prior to being received by the solicitor. Emails and letters for a property settlement were altered so that $120,000 was sent via an EFT to an overseas bank account and the funds were lost.
The following procedures and processes are recommended:
Email requests for the transfer of funds via EFT should be checked for authenticity
Ring the recipient requesting the funds and check the BSB and account numbers
Where a request is urgent, and/or the amount is substantial, be extra vigilant
BSB numbers can be held in accounting systems for payment purposes. Before entering BSB numbers
and/or receiving a request to change a BSB number, ring client and confirm that the change is authentic.
Apl Financial Pty Ltd