Phishing gets worse
A new method used by cybercriminals to carry out funds transfer fraud is through the electronic manipulation of documents.
For example, one claim involved a plastics manufacturer whose computer systems were hacked. This allowed the fraudsters to access the invoice payment templates that were sent out to their customers.
The fraudsters changed the bank details on the form so that when they were issued to customers, the payment simply went to the fraudsters' account rather than the client's. Some £140,000 was transferred to the fraudsters before the client realised what had happened.