LINK WARNING – FRAUD NOTICE

LINK WARNING – FRAUD NOTICE

Dear All,

LINK Global Network has been made aware of a new wave of phishing e-mails being used to intervene in communications between members.

Don’t know what phishing is?….you should!

Phishing refers to when an e-mail account is hacked so that a fraudster can first observe a communication between two companies and later intervene. The intervention is usually done just before the time of payment. The fraudster intervenes after seeing the tone of the exchange and copies the style of conversation – but generally from a slightly different e-mail address. They inform of a change of bank, the funds are paid into a fraudulent account often in another country. The account is then swiftly closed and difficult to trace, before the fraudster disappears.

Due to the nature of forwarding, with frequent international payments, logistics companies are a particular target for this type of fraud.

LINK Advice & Policy

Legitimate changes of banks can occur, but if you are asked to pay to a new account, make sure that the new account is genuine with a check above a simple response e-mail. If you only check by email, your message will probably be re-routed and not seen and could cost. Consider picking up the phone – it could save you a lot of money

In the case of an incorrectly sent transfer due to fraud between LINK members, we consider the debt to be still pending and requiring settling. It may appear that the e-mail instructing the new bank account was fraudulent, but it is not possible to confirm the origin of the breach nor does this represent a reason for not making the payment again to the correct account.

FSP! is LINK’s payment guarantee fund to protect FULL/Affiliate members against default and bankruptcy. The fund does NOT cover payments of funds lost due to incorrect payment routing from one LINK member to another.

If you require any further information or have been a victim, please do not hesitate in getting in touch.

USMAN REHMAN
Chairman