28/08/2026
Your accounts team receives an email from a regular supplier:
"Please note, our banking details have changed."
The email looks genuine. The invoice looks right. The payment is made.
A few days later, the real supplier calls — they never received the money.
This is one example of social engineering, where fraudsters manipulate people into making payments, sharing information or changing details.
Help reduce the risk:
☎️ Verify banking changes using trusted contact details.
👥 Consider dual approval for significant payments.
🔐 Use strong passwords and multi-factor authentication.
🎓 Train employees to recognise suspicious requests.
📋 Have a clear payment-verification process.
And don't assume standard business insurance automatically covers fraudulent payments or cybercrime.
Verify first. Pay second.
Cover is subject to the terms, conditions, limits and exclusions of the specific policy.
