Bogus Boss Scam Advice

Dear Clients

We would like to share with you NatWest's advice regarding the Bogus Boss scam which has already cost businesses millions of pounds in the UK alone.

Please ensure you treat any requests for urgent payments cautiously, stay safe and don't get caught out.


What happens?


Fraudsters get the name and email of someone senior in your company and create a fake email that looks like it's come from that person. Then they send it to someone in your finance team.


It asks for an urgent payment to be made to a new account and usually gives a realistic reason, such as it's needed to secure a new contract. Of course, the account is in the hands of the fraudsters. And the money gets taken out almost as soon as it's put in.


Step up your defences


There's plenty you can do to protect your company from the Bogus Boss:


  • Question any email that asks for an urgent bank transfer

  • Check with the sender. Drop by their desk, or call them direct. Don't use telephone numbers or email addresses in the suspect email, they're a fast-track back to the fraudster

  • What about the wording? Any incorrect spelling or grammar or phrases that the senior executive wouldn't use?

  • Use strong internal passwords

  • Put an internal process in place for requesting and authorising payments (if you haven't already)

We've made a short video of tips on how to spot emails from these tricksters. You can watch it here. It's also on on the Bankline log-in and log-out pages.