The Charity Commission is warning charities to beware if they are asked to change their suppliers’ bank account details.
Fraudsters behind these requests then receive the money from invoices the charity pays to their suppliers.
The Charity Commission is warning that higher education institutions across England have been targeted.
Action Fraud is also reminding businesses that they could also be at risk of frauds such as these.
Prevent bogus supplier fraud:
- Ensure you have appropriate controls over proposed changes to supplier details. This could be by independently verifying changes to supplier details directly with the supplier before it is actioned, e.g. by speaking to the supplier’s credit control department on a verified phone number, or writing to confirm the changes with the supplier via a known postal address.
- Scrutinise the documentation asking you to make these changes, e.g. check if the contact details are correct and match the details against previous legitimate correspondence.
- Ensure that making changes to supplier details cannot be carried out by one individual unchecked, particularly where large ongoing contracts are concerned. Any changes should be properly authorised by an individual at an appropriate and agreed level within the organisation and within the supplier.
If your charity or business has been a victim of fraud, report it to Action Fraud.
Read more about bogus supplier fraud on the Charity Commission’s website.
Please note: Action Fraud is not responsible for the content on external websites.
To report a fraud, call Action Fraud on 0300 123 2040 or use our online fraud reporting tool.
See also:
Invoice scams
Charity donation fraud
Protect yourself from fraud
