Beware of Amended Payment Instructions

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Advisory for Indian business community

Beware of Amended Payment Instructions:

The Embassy of India has learnt that several Indian companies and their trade partners have been victims of cyber crimes resulting in fraudulent transfer of their funds to fake bank accounts in Poland. The hackers are interceding in e-mail correspondence between trade partners, inserting fake emails to Indian companies, asking them to transfer funds to some accounts in Polish banks, citing problems in current bank accounts.

All Indian businessmen and potential investors are, therefore, advised to exercise caution and make inquiries before making any payments to their trade partners and also to the exporters/importers that they are dealing with.

Even in the case of e-mail requests from the partner companies for making advance payments for goods sold, companies are advised to ensure by phone and other channels that the email received is from the genuine partner company.

The Embassy has strongly taken up these cyber crime cases with the relevant Polish authorities and would advise Indian companies to be particularly cautious of any email amending earlier payment instructions and requesting transfer of funds to Polish bank accounts.

Thsese suggestions should be taken into account before complying with any sudden requests for remittance of funds to bank accounts in Poland.

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