Scam

In this scam, someone impersonates your supplier and uses an email address that is very similar to his actual email. You are told to transfer funds to a different bank account because his regular bank account has been suspended or is under audit.

WHAT TO LOOK OUT FOR

• Be wary of any sudden changes in your suppliers' or creditors' payment instruction and accounts
• Always check directly with your suppliers if in doubt

HOW TO PROTECT YOURSELF

• Do not make any changes to your payment arrangements without first verifying the veracity of the email
• Check with your supplier or a representative whom you trust first before changing payment recipients

Source: Scam Alert Singapore