We have been made aware of a number of instances where the email accounts of staff members within a company have been compromised.
Payment administrators will receive an email seemingly from the genuine email address of another member of the business (often a director) with a payment instruction. As the instruction has come from a recognised and legitimate email address the payment is processed without further verification. In reality the email has been sent by a fraudster. The fraud may go undiscovered for a significant length of time diminishing the possibility of recovering any funds.
We are advising all customers to be aware of this scam.
Take additional steps to verify payments when dealing with email based instructions (particularly where the beneficiary is not one you have paid before).
Be aware of any changes to the style/grammar when receiving new payment instructions (often these instructions will have poor English).
If you believe you are a victim or target, please contact your account manager as soon as possible and report this to Action Fraud.
For more information on how to protect yourself online visit www.cybusinessonline.co.uk/security/protecting-yourself
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You can find impartial information and guidance on money matters on the “Money Advice Service” website.
Clydesdale Bank and Yorkshire Bank are trading names of Clydesdale Bank PLC which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register No. 121873. Credit facilities other than regulated mortgages and regulated credit agreements are not regulated by the Financial Conduct Authority.
Clydesdale Bank and Yorkshire Bank are covered by the Financial Services Compensation Scheme (FSCS), Find out more.
Registered in Scotland (No. SC001111). Registered Office: 30 St. Vincent Place, Glasgow, G1 2HL.