## Beware of Fake Business Invoice Scams Targeting Australians
In the digital age, scams have become more sophisticated and harder to detect. One such alarming trend is fake business invoice scams. This scam involves fraudsters posing as legitimate businesses to trick victims into paying fraudulent invoices. These malicious actors often use authentic business logos and Australian Business Numbers (ABNs) to make their invoices appear genuine, making the scam challenging to identify.
### Understanding the Scam
**Fake invoices**: The crux of the scam revolves around sending fake invoices. These invoices might closely mimic those from legitimate businesses, but they feature altered payment details, redirecting the money to the scammer’s account.
**Common targets**: While travel bookings and car purchases seem to be particularly vulnerable to these scams, any business can fall prey.
### Spotting the Scam
**Verify payment details**: Always double-check payment details directly with the business before settling any emailed invoice. This crucial step can prevent money from ending up in the wrong hands.
**Differences in details**: Pay close attention to the payment or banking details on the invoices. Fake invoices typically have discrepancies in BSB and account numbers compared to authentic ones.
### How the Scam Unfolds
1. **Fake email**: You receive an email invoice from a business you believe you have dealt with before. However, unbeknownst to you, the payment details have been altered.
2. **Follow-up confirmation**: If you reach out with inquiries about the payment details, the scammer is quick to respond, providing a convincing explanation for the changes.
3. **Funds diverted**: If you proceed with the payment, the money goes straight to the scammer’s account instead of the legitimate business.
### How to Protect Yourself
1. **Stop**: Don’t act impulsively. Take your time to verify the payment details directly with the business in question.
2. **Think**: Reflect on your interactions. Do you truly know who you are communicating with?
3. **Protect**: If something feels off, act promptly. Report the scam to Scamwatch and notify your bank if you’ve transferred funds.
### Real-Life Example
To underline the gravity of these scams, consider a recent case where a couple lost over $800,000. They believed they were paying their solicitor, only to discover too late that the solicitor’s invoice had been intercepted and altered by a scammer. The fraudulent invoice contained incorrect payment details, directing the funds to the scammer’s account instead.
### Preventive Steps
**Verify payment details**: Make it a habit to always cross-check payment information with the issuing business directly. This small step can save you from significant financial loss.
**Report scams**: If you suspect you’ve received a fake invoice, report it to Scamwatch and the Australian Cyber Security Centre. Your vigilance can help thwart these scams.
### What to Do If You’ve Been Affected
**Contact your bank**: If you have fallen victim to this type of scam and lost money, contact your bank or financial institution immediately to report the incident and secure your accounts.
**Report to Scamwatch**: Filing a report with Scamwatch helps authorities track and combat these scams more effectively.
**Share your experience**: Informing friends and family about your experience can prevent them from becoming victims of similar scams.
In conclusion, while invoice scams are increasingly sophisticated, staying vigilant and consistently verifying payment details can provide robust protection. By taking these steps, you can safeguard your finances and contribute to a broader effort to fight against fraud.
Stay safe and cautious!
