The danger of fake IBANs

Recently, small and medium-sized enterprises (SMEs) have been facing a new fraud method used by cybercriminals. These scammers target companies' supplier relationships and payment schedules, misleading businesses with fake “our bank account details have changed” messages.

These types of scams target human psychology rather than technical vulnerabilities. After infiltrating a company's system, attackers remain silent for a long time, monitoring supplier correspondence and payment calendars. During critical payment periods, they send fake emails sharing new IBAN information. Since these emails often appear to come from a trusted business partner, they do not raise suspicion.

The language used in the emails is supported by justifications such as “Our accounts are under audit” or “Our accounting department has changed,” and for this reason, they are often accepted without question. The messages are sent either from a compromised real email address or from fake domain names created with minor differences.

Experts state that this fraud method easily bypasses traditional security software. SMEs, in particular, are at serious risk in such attacks because businesses unknowingly transfer money directly to the scammers. Therefore, it is recommended that businesses remain vigilant against such messages and always perform verification.

News Source: 12punto