Police advice to traders
A new case of online invoice fraud is being investigated by the police. The case was reported to the police
yesterday by a company director in Paphos.
According to the complainant, on 27 January 2021, he ordered various parts from a company abroad.
After an exchange of emails between the two companies, the complainant's company proceeded to pay
the amount due, amounting to €27,227, to the foreign company, via a bank order.
However, as the complainant subsequently found, the sum of money was not sent to that company abroad,
but to unknown persons, who were alleged to have intervened in his company's e-mail. The T.E.O. of
Paphos is investigating the case.
So-called invoice fraud is a frequent form of online fraud. In it, the fraudster approaches a business and
pretends to be a supplier, asks for his bank account details to be changed and any new payments
made according to the new information. Of course, the new proposed account, which he gives to the
business/victim, belongs to the fraudster.
In connection with this case, the police are calling on the public, and in particular the traders, to be
particularly careful in their transactions.
Highly recommended:
- Apply a procedure to verify the legality of payment requests you receive. When requesting payment of
money to a different bank account than the one normally used, verify the request by telephone or
other communication with the vendor.
- Do not use the contact details included in the letter/fax/e-mail requesting the change of details. Instead,
use the contact information from your previous correspondence with the vendor.
- Specify unique business contact points to which you make payments at regular intervals.
- Change passwords frequently in e-mail and use two step verification techniques to sign in to e-mail.
- Use malware protection programs, both on computers and mobile devices, that are updated regularly.
- Do not open links contained in emails or text messages from strangers, as these links may refer to
malicious websites or even cause malware to be installed.
- Check your e-mail redirection filters settings regularly. If such a redirection filter is found to be active in
another unknown e-mail, then delete such an arrangement and inform the Police.
- Regularly check the history of access to e-mail and, where an unknown connection is observed, take
corrective action.
For relevant information and/or complaints, the public may visit the website of the
Electronic Crime Sub-Directorate www.cyberalert.cy.
