Business email compromise scam

We’re aware scammers are attempting to intercept property settlements by accessing business email addresses and sending fraudulent payment instructions from the business’ email account. This type of scam is often hard to recognise because the buyer is expecting to make a payment and is waiting on instructions. Often, it is only the payment details that differ from a legitimate email or invoice from the business.

Once scammers have access to a business email account, they are able to identify when large payments are due and email buyers instructing them to make the payment to them instead of the legitimate recipient. Sometimes scammers are able to use the actual business' email address and other times they use addresses that are similar.

If you are responding to a request for payment, be cautious. 

• Always contact the business on their publicly listed number to confirm the bank account number is correct before paying.
• Check sender details carefully, look out for differences in the domain name or characters replaced with letters. For example, an ‘@’ replaced with ‘a’.
• Be wary of last minute changes to payment instructions, especially if sent out of normal business hours.
• Ensure you get a ‘match’ for Confirmation of Payee when making an online payment from ANZ goMoney and ANZ Internet Banking.
• For business owners, ensure staff handling payments are trained to recognise suspicious emails.

Read more about scams and fraud that target businesses.

Remember:

If you think you’ve been the victim of a scam, please call us immediately on 0800 269 296 (or +64 4 470 3142 from overseas, charges may apply).