The latest issue of Tenet Law’s “The Secret Ingredient” fraud mitigation newsletter includes a case study of APP fraud within the food industry supply chain. Although a risk usually associated with consumer-to-business transactions such as property sales, Tenet warn that fraudsters are attracted to payments that are high in value, and to circumstances which easily lend themselves to email chains discussing payment, where a fake email changing account details would not necessarily look out of place. The food industry with its international supply chains and high value transactions is an enticing target.
The red flags in this business-to-business version of the fraud are exactly the same as consumers are typically warned about in phishing e-mails including unusual e-mail addresses, poor spelling or grammar, unsolicited requests for financial details and incorrectly replicated company logos or footers.
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