A general view is seen of a Bendigo Bank ATM in Brisbane, Friday, June 25, 2021. Source: AAP Image/Albert Perez
An Australian small business narrowly avoided losing almost $940,000 to a single payment redirection scam, Bendigo Bank says, highlighting the importance of double-checking invoice details before firing off payment.
In a statement, Bendigo Bank said the business engaged a construction firm for routine works and sent a draft invoice to confirm the amount owed.
The construction business sent back an email from its legitimate email account, signed by its director, confirming the amount owed.
However, it included a new set of bank account details, which the small business used to process its payment.
The payment was actually directed towards a fraudulent bank account, as the construction business had its email account infiltrated by a criminal.
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