It is important to be careful when receiving instructions related to bank data from entities with which regular payments are maintained, such as income, bribes or services. The need for surveillance increases by recent safety incidents in Portuguese financial institutions, in which mobile devices exposed IBAN from several clients, highlighting the potential misuse of these data. In this context, it is about receiving a request to change the IBAN.
According to Caixa Geral de Depósitos (CGD), these requests may hide fraud attempts to deflect money for third party accounts, and are often discovered only after transfers have been made.
How these blows work
Usually, the customer receives a seemingly legitimate email, informing that invoice payments should be made to a new IBAN.
The message seems official, but the funds are eventually transferred to an account controlled by fraudsters.
According to the same source, these emails are carefully elaborated to resemble the entity’s usual communications, making it difficult to identify fraud at first sight.
Warning signs
There are some signs that should arouse suspicions. The first is the request to change the usual IBAN of a payment.
Another warning is the request for payment of already settled invoices, alleging failure in the previous payment. Finally, the discrepancy between the country of the new IBAN and the original bank may be revealing. According to CGD, these three situations are the most frequent indicators of attempted bank fraud.
How to protect
To avoid problems, the institution recommends confirming any change directly with the entity, using different channels of email, such as telephone or face-to-face service.
It is equally important to verify the origin of the new IBAN, especially if the invoice or amount has already been paid.
If in doubt or to report a possible fraud, customers can contact 217 900 790, service available every day, 24 hours a day.
Caixa Geral de Depósitos Recommendations
It also reinforces that it never requests safety data by email. Informative messages should not be answered, and personal data remains confidential.
According to the same source, requests for information can be made through the contact number, on the official website, in the area of aid, or in person at an agency. Those who joined the Caixadirecta service can manage contacts or cancel email reception using the usual channels.
The Bank informs that the processing of personal data in accordance with the European Regulation 2016/679. For additional clarifications or contact with CGD’s Data Protection Officer, you can consult the Personal Data Privacy and Protection Policy on the official website or to contact the National Data Protection Commission. This recommendation underlines the need for permanent surveillance in the face of changes in IBAN, preventing unpleasant surprises for customers.
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