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We want to prevent IBAN-redirect fraud from hitting us

Invoice redirect fraud is not just a technical problem, it is a process problem. The control that works is consistent callbacks on IBAN changes, not a better mail filter.

Try this first

  1. 1Write into the procurement process: new vendor or IBAN change always requires a callback verification on a phone number from a trusted source (chamber of commerce, prior correspondence, contract).
  2. 2Set up four-eyes approval on payments above a threshold that fits your size. The owner plus a second person both approve in the banking portal.
  3. 3Turn on alerts in your accounting tool when a vendor IBAN changes or a new vendor is created. Exact, AFAS, Twinfield and Yuki all have hooks for this.
  4. 4Disable external auto-forwarding in Exchange and alert on new inbox rules. Many IBAN-swap cases start with an attacker reading a mailbox.
  5. 5Train finance at least once a year with a concrete example of a real IBAN-swap attempt. Skip abstract slides, a forwarded real-world sample lands better.

When to bring us in

If you work with foreign vendors and large payments, ask your bank about Confirmation of Payee for SEPA payments where available, and look at cyber insurance with explicit social-engineering-fraud coverage.

See also

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