Members Warned of Potential Fraud
Our colleagues at the UK Contractors Group have asked us to issue this important warning message to our corporate members.
"...You should be alert to recent sophisticated fraudulent activity which has been undertaken both on contractors and clients but could equally be visited upon contractors and their subcontractors and suppliers.
Clients have been targeted by telephone calls asking for information (often relating to payments made and invoices to be paid whether by way of valuations or otherwise) which is then followed by what appears to be a legitimate letter (on headed paper) from the contractor advising of a change to the payee’s bank account.
Funds are then paid into that account only for the payer and payee to discover that payment has been sent to a third party’s account, possibly never to be seen again.
Police have been informed of this happening and they and the bank concerned are involved in ongoing investigations. In one instance a client is known to have transferred circa £170k into one of these accounts some of which was then electronically transferred abroad.
Please beware of this kind of activity.
Anyone affected should contact their local police..."
14th Feb 2011
ID: 1363
