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Business Fraud Part 1: John's Story - Invoice Fraud

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Posted by Jeremy Jeremy
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Business Fraud Stories: Part 1.


John's Story - Invoice Fraud.

John works for a business that sells small electronics. His role is managing accounts, paying invoices and salaries. He often works from home, using his laptop.


One day, while processing payments, online banking asked him to refresh his security details, which he did before finalising the accounts and sending to Margaret for her approval.


One week later John received a call to say that a supplier did not receive their payment. He checked the payment amount and supplier details and noticed that the BSB and account number were different from the ones he had entered.


John and Margaret were the victims of online fraud.


What happened:

John’s laptop is also used for non-work purposes like downloading movies or files from insecure sources resulting in a virus being installed on his machine.

The virus detected when John was logged in to online banking and requested his personal details. When John created his payments, the virus was able to amend the BSB and account details prior to Margaret’s approval.


What John should have been aware of:

  1. John should have been suspicious of the prompt to refresh his security details;
  2. He should never carry out his business banking on a shared computer;
  3. Margaret and John should have both checked the BSB and account details;
  4. John should ensure his antivirus software and browser are up to date.


What you should do:

If you experience anything suspicious when doing your online banking, please log off and report it to us immediately.


Bankwest will never ask you to confirm your details online.


To learn more about protecting yourself online, please visit the Security Centre.


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