Fraud Awareness & Prevention
Safeguard your business
Fraud continues to rise globally, driven by a combination of technological, economic and behavioural factors. As financial systems become more digital and interconnected, criminals are finding new ways to exploit vulnerabilities across businesses, supply chains, and everyday transactions, which can see SMBC customers and their vendors are prime targets.
SMBC urges all clients to remain vigilant against increasingly sophisticated fraud attempts. Below are key threats and recommended actions.
How to protect your business against fraud?
Report suspicious activity
If you receive suspicious communications or suspect fraud:
• Contact our Cash Management Services Helpdesk: +44 (0)20 4507 1874, or Contact our Operations Customer Service Group on +44 (0)20 4507 3901, or
• Your Relationship Manager
Identify common fraud types
• Email & Phone Scams (Phishing & Social engineering):
Fraudsters may try to impersonate SMBC staff, business partners, or other trustworthy organisations, offering loans or requesting sensitive information under false pretences.
• Business Email Compromise (BEC):
Email mimicking SMBC staff, especially senior managers, requesting fund transfers or information about your account. Emails may be received purporting to be your customers or supply chain partners indicating a change in their bank account details.
• Remittance Fraud:
Fake payment requests from executives or partners, often urgent and confidential, aiming to redirect funds.
• Cheque Overpayment Fraud:
Fraudulent cheques issued for excess amounts, followed by requests to refund the difference.
• Phishing & Malware:
Suspicious links or attachments may contain viruses or lead to fake websites.
Five-pronged approach to protect your business from fraud
Have you taken all necessary measures to secure your bank accounts and safeguard your business from falling victim to fraud? Learn about the five-pronged approach you can take today to help prevent fraud in the future.
• Verify Requests:
• Always confirm changes to banking details or urgent payment instructions via trusted channels.
• Verify the source and authenticity of requests to move money by calling a known phone number on record before taking action.
• Internal Controls:
• Implement approval processes for new payees or large payments.
• Educate yourself and staff on business email compromise (BEC) and other tactics used to commit wire fraud.
• Cyber Hygiene:
• Use strong, unique PINs or passwords and change them regularly.
• Never share login credentials or send them via email.
• Avoid accessing E-Moneyger® in public places and avoid using public WIFI
• Email Safety:
• SMBC does not send unsolicited emails offering products to our customers.
• Don’t click unknown links or open attachments from unfamiliar senders.
• Use up-to-date antivirus software.
• E-Moneyger® Security:
• Check for the green address bar and personal security message.
• Enable transaction email receipts.
• Visit the “Learn about Security” link on the login page.