It has been reported that there is a significant increase in the number of businesses receiving letters purporting to be from a key supplier, stating that bank payment details have been changed; the new details provided in the letter will be the fraudster's account details.

It is relatively easy to defend against this particular fraud by always confirming by telephone any change of bank details; always do this using the number you know rather than the number shown on a potentially fraudulent letter, which could be fake or could direct you to the fraudster.

Similar frauds are also on the increase, such as:

• Emails stating bank details have been changed
• Emails purporting to be from senior staff members instructing accounts or administrative staff to make immediate payments to a particular bank account (I.E. the fraudster's account)
• Interception of emails with invoice attachments, enabling the fraudster to change the sort code and account details on the attachment before it is forwarded to the original intended recipient

All of your staff should be made aware of these potential fraud attempts, as vigilance is one of the best defences.