Business Alert: New "Reverse Payment" Fraud Targeting Local Firms

A sophisticated fraud trend is currently targeting the business community, involving "layering" stolen funds through legitimate accounts. We thank NatWest International for sharing this vital intelligence to help protect local firms.

The Scam Mechanics

Fraudsters deposit stolen money into a victim’s account, then call pretending to be the bank’s fraud team. They claim the deposit was an "error" and instruct the business to "return" the funds to a specific account (often via Revolut) or click a link to "fix" the issue. These links can grant criminals full access to your banking systems.

Vital Safety Rules

• Trust Nothing: Banks will never ask you to make a payment, share a PIN, or provide a password over the phone.

• Verify Independently: If contacted, hang up. Call your bank back using an independently verified number and a different phone than the one the fraudsters called you on.

• Total Vigilance: Ensure all employees—not just directors or signatories—are aware of this tactic.

Action: Report any unexpected deposits or suspicious approaches to your relationship manager or official fraud team immediately.