Pay the invoice without checking, lose the money

Loading player...
An awful form of bank fraud is on the rise – it’s called Business Email Compromise. Here how it works - a fraudster hacks into an email exchange, waits for an invoice, then swaps in their own banking details before it reaches you. You pay, in good faith, and your money is gone. And in this country the law often holds YOU liable, for not checking. AI has wiped out the old giveaways too, no more spelling mistakes or clumsy grammar. So, make this a hard rule, at home and at work: before you pay a new account sent to you via email, especially if there are new account details - phone the supplier on a number you already have and confirm. They will be delighted you did.
28 Jul English South Africa Education · Self-Improvement

Other recent episodes

Are you overpaying for your pet’s meds?

Vet bills are brutal, and medication is a big slice of them. But you may never be told that a cheaper equivalent of what you're being dispensed exists, because nobody at the counter is obliged to raise it with you. So ask. Ask whether there's a generic or a cheaper…
21 Aug 1 min

Check your credit record before it costs you

A listener wrote to me about a phone account written off years ago. He doesn't dispute the money. What he disputes is what the listing has since done to him. Most people only find out they're listed when a loan or a rental application is turned down, and by then…
20 Aug 1 min

Scammers still getting away with the fake POP tactic

Selling something on Gumtree or Facebook Marketplace? The oldest trick in the book is still working beautifully for scammers. The "buyer" sends you a proof of payment, often a very convincing one, and arranges a courier to collect that same day. The money never arrives, the goods are gone, and…
19 Aug 1 min

It pays to know your CPA

Mitch of Durban bought a second-hand phone from well-known national retailer. Six weeks later it failed. The shop refused a refund, refused a credit, refused a swap, and offered him a repair. That is not how the law works. Under the Consumer Protection Act, if something you buy fails within…
18 Aug 1 min

Free for three months. Then not.

A Discovery member took advantage of a free health check and then got a sales call offering her a three-month free Vitality trial. She agreed, on condition that she be contacted before the free period ended. Nobody contacted her. The membership rolled over into a paid one, and the fees…
17 Aug 1 min