It's a good idea to be wary of any requests (via email, phone or otherwise) to change beneficiary banking details or send a payment to a new beneficiary. The request may be an attempt to divert funds to a fraudulent account.
Fraudulent requests may be disguised as originating from a supplier and ask that you change the supplier’s bank account information.
As a precaution, always take the extra step of checking directly with your supplier through an alternative communication method outside of the email environment, such as a phone call to a trusted source in their company, to confirm that the change request is genuine.
In some cases, the fraudulent request to change supplier information or make a payment to an unfamiliar account supposedly comes from your organisation’s CEO, President or other administrator.
When reviewing any type of payment instructions from an internal source, ensure the request uses your organisation’s official channels and follows authorised processes and procedures.