Invoice Redirection Fraud stems from a larger cybercrime called Business Email Compromise where cybercriminals impersonate a business to trick you, an employee, customer or vendor into transferring money or sensitive information.
This is done usually by gaining remote access to an email account or using an email address that appears legitimate and almost identical to the trusted business email address. The cybercriminal then sends what appears to be a legitimate email requesting money or sensitive information.
In the case of Invoice Redirection Fraud, the cybercriminal will send an invoice which includes new updated bank details so payments are redirected to the cybercriminal.
Prior to making a payment, OK2Pay can provide users the actual name associated to a bank BSB and account number, highlighting an incorrect account name or confirming a correct one.
