Scam News is warning internet users to watch out for fake email invoices.

Scammers pose as a real business you've recently dealt with. They send fake invoices with changed payment details, so your money ends up with the scammer. People booking travel and buying cars have recently suffered more of these scams, but they can affect any type of business. Scammers make these invoices look real by copying business logos and ABNs, making the scams harder to spot. Always check payment details directly with a business before paying an emailed invoice.

How to spot the scam

Fake invoice scams are hard to spot. This is because: the scammer will hack the business' email system or impersonate their email address a fake invoice looks real and may have the business logo and ABN the email might look just like other emails from the business, and may appear in the same email or conversation history. You need to check the fake invoice against a real business email or invoice. A fake invoice has different payment or banking details, or a different BSB and account number to the real business.

How one couple lost over $800,000 to a fake invoice scam

A couple fell victim to a fraudulent invoice scheme and lost an astonishing sum of over $800,000. The scammer posed as their solicitor during the final stages of a property settlement. The couple received an email containing transfer details to complete the funds transfer for their property purchase. To their dismay, the email appeared to be sent from their solicitor's legitimate email address. Unbeknownst to them, the provided bank details were incorrect. Believing that they were making a legitimate transaction, the couple received a confirmation email from their legal team, confirming the receipt of funds. However, this email was intercepted by the scammer.

Here's how the scam operates:

1. You receive an email invoice from a business with whom you have been conducting business.

2. The email appears to come from the genuine business email address, as scammers have gained unauthorized access to their systems or slightly altered the business email address.

3. The scammers modify the payment details on the invoice, redirecting your money to a fraudulent account.

4. If you happen to inquire about the altered payment details, the scammer will respond, providing an explanation for the change.

5. Using the payment details provided in the fake invoice, you proceed to make the payment.

6. Your payment is successfully processed, but instead of reaching the intended business, the money ends up in the scammer's account.

7. Unaware of the deception, you remain oblivious to any wrongdoing. Eventually, the genuine business contacts you, requesting the money that you unknowingly paid to the scammers.

Ensure your safety

PAUSE - Avoid making hasty decisions. Take the necessary time to reach out to the company directly, using contact information that you have obtained independently, to verify the accuracy of the payment details.

CONSIDER - Reflect on whether you truly know the identity of the individual or organization you are communicating with. Scammers have the ability to create invoices that closely resemble authentic ones by replicating logos and ABNs. They may also send emails that appear to be from the company you have been dealing with, but with altered banking information on the invoice.

SAFEGUARD - Take immediate action if something seems amiss. If you have disclosed financial information or made a money transfer, promptly contact your bank. Additionally, assist others by reporting the scam to Scam News.

Notify the US Cyber Security Centre if you encounter fraudulent business emails.

If you have been impacted

In the event that you have incurred financial losses, immediately contact your bank or financial institution.

Inform the platform where the scam occurred, ensuring they are aware of the situation.

Support others by reporting scams to ScamNews.

Share your experience with friends and family, as this not only allows you to receive their support but also helps protect them from falling victim to scams.