BANK & TRANSFER VERIFICATION

Verify the transfer before the money moves.

Bank transfers can be difficult to reverse once completed. Before approving a payment, changing a beneficiary or sending money because of a new instruction, work through these checks.

A bank account number is not proof that the payment is legitimate.

Payment fraud can involve impersonation, fake invoices, compromised accounts, changed beneficiary details or convincing requests from someone who appears familiar.

When a payment instruction is unexpected or different from what you previously agreed, stop and independently verify the change before sending money.

What should I verify before transferring money?
Confirm the beneficiary, account details, amount and reason for the payment. If anything has unexpectedly changed, independently verify the change before approving the transaction.
What does “verify through another channel” mean?
Use a contact method you already trust instead of relying only on the new payment message. If a person says their bank details have changed, call the phone number you already have for them. If it is an organisation, find its official website or app yourself and use the contact details published there. Do not use only the new contact details supplied in the request.
What if someone says the account has changed?
Do not rely only on the message containing the new account information. Contact the person or organisation using a trusted contact method you already know and confirm the new details.
What if I am being pressured to pay immediately?
Slow down. Urgency should not replace verification. If the payment is genuine, it should normally be possible to confirm the beneficiary and payment instructions through an appropriate trusted process.
BANK & TRANSFER SAFETY CHECKS

Check the payment before approving it.

Work through the checks below, especially when the payment instructions are new, unusual or different from previous instructions.

Who is receiving the money?

Confirm the beneficiary's identity and account details before approving the transfer.

Why this matters
A familiar name or account description is not enough. Check that the beneficiary is the person or organisation you actually intend to pay.

Did the bank details change?

Treat an unexpected request to change an account number, bank or beneficiary as high risk.

Why this matters
Fraudsters may impersonate suppliers, employees or other trusted contacts and request that future payments go to a different account.

Is the amount correct?

Check the final amount carefully before approving or sending the transfer.

Why this matters
Errors and fraud can both result in an incorrect amount being sent. Compare the amount with the original agreement, invoice or other trusted record.

Was the request independently confirmed?

Verify unusual payment instructions using a contact method you already trust.

Why this matters
If the request comes from a person, call a phone number you already have for them or use another established contact method. If it comes from an organisation, find its official website or app yourself and use the contact details published there. Do not use only a new number, email address or contact detail supplied by the payment request.

Is someone creating pressure?

Be cautious when you are told that payment must happen immediately or that normal approval procedures should be skipped.

Why this matters
Urgency can cause people to bypass verification and internal controls. A legitimate urgent payment should still be verified through an appropriate trusted process.

Do you have supporting evidence?

Keep the relevant invoice, message, account details and other useful records before completing the payment.

Why this matters
Useful records can help you compare the request, identify inconsistencies and preserve evidence if something later turns out to be fraudulent.
Before you approve the transfer, confirm:

Beneficiary: Is the money going to the intended person or organisation?

Account details: Are the bank and account details consistent with trusted records?

Amount: Is the final amount exactly what you intended to send?

Confirmation: Was any unusual change verified independently using a contact method you already trust?

Changed bank details? Stop and verify.

If a supplier, employee, customer or other contact suddenly asks you to send money to a different account, do not rely solely on the new message. Call a phone number you already have for the person, or find the organisation's official website or app yourself and use its published contact information. Do not use only the contact details contained in the suspicious request.

VERIFY BEFORE YOU TRUST.