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Crime prevention Hertfordshire

Mandate fraud

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text here You are emailed by someone pretending to be one of your suppliers, informing you that they have changed their bank details and requesting that subsequent invoices are paid to the new account. You amend your bank mandate to the account details provided.

You are later contacted by your genuine supplier, asking what has happened to their payment. Your heart sinks as you realise you’ve transferred company money to an unknown fraudster.

Often, this mandate fraud request comes from a very similar email address to your supplier or even from a hacked genuine email account. Another method involves the criminal pretending to be a senior manager asking for a payment to be made. Hertfordshire businesses lost over £2 million to mandate fraud in 2015/16.

How can I avoid this happening to me?

  • Double check that any requests to change financial details is from the genuine supplier. Contact them using contact details on file or from their website - don’t reply using the details provided in the request. Use both email and telephone in case one has been hijacked by fraudsters.
  • Try to establish at least two points of contact with regular suppliers to check any issues that arise.
  • Contact senders of larger invoices in advance of making payment to ensure details are correct.

Herts Constabulary provide more advice on mandate fraud.

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