Avoiding fraud. A must read for businesses, Schools, organisations, and everyone.
There’s a kind of fraud that goes under several names, including ‘authorised signatory fraud’ and ‘mandate fraud.’ In a nutshell, the fraudster identifies companies, charities, individuals, anyone in fact, where money is about to be transferred from one party to another. This could be for a sale of a house, or an invoice payment, even the transfer of a footballer. It’s happened in all instances.
The fraudsters impersonate the person due to be receiving the monies, and instruct the sender to send the funds to a different account. Their account.
Please read he article here on Cygnetise.com in order to understand the problem before becoming a victim of it.