Cyber crime

Beware of fraudulent bank emails, warns NMBS

Published:  11 September, 2019

NMBS is warning its members and suppliers to beware of fake emails claiming to be from the Buying Society, after an attempt was made to trick builders’ merchants into sending payments intended for NMBS into a fake account.

In early September a number of NMBS members received an email claiming to be from the buying group, informing them that it had changed its bank details, and asking them to send their payments to a different account.

In fact, NMBS has not moved to a different bank account, and the emails were a fraudulant hoax.

Julie Langford, Finance & Operations Director at NMBS, says: “We were very concerned to learn of the attempt to defraud our members by tricking them into sending money to a fraudulent account. The email is completely false and none of our bank details have changed.

“We want to assure our members that we would never contact them by email to announce any changes in our financial or banking details. Email is simply not a secure enough platform to be communicating that type of business-critical information.”

NMBS has detailed security procedures in place to protect against cyber threats and is urging its members to take similar precautions.

If a member contacts NMBS by email or phone asking for their financial records to be updated, NMBS requests a signed letter with all the details enclosed. On receipt of the letter, an NMBS representative will then contact the merchant directly to confirm that the request is legitimate, and will send back a letter of confirmation before any bank details are changed.

Langford continues: “These precautions do take extra time, but it ensures the safety and security of NMBS, our members and suppliers – something we take extremely seriously. Cyber crime is a real threat to all businesses and as these types of cyber attack become more sophisticated and more convincing, we must all be extra vigilant.”

For more information, visit www.nmbs.co.uk or call 0116 253 0531.

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