Fraud Prevention Centre
Helping Businesses Recognise, Prevent, and Respond to Payment Fraud
Fraud continues to evolve as businesses become increasingly connected across global markets. Criminals often target payment processes, business relationships, and human behaviour rather than only technology. For this reason, protecting businesses requires more than secure systems—it requires awareness, strong internal processes, and informed decision-making.
At Harbix, we are committed to helping businesses understand common fraud risks, recognise warning signs, and take appropriate steps to protect their financial operations.
Understanding Business Payment Fraud
Business payment fraud occurs when criminals attempt to manipulate, deceive, or gain unauthorised access to financial processes in order to redirect funds or obtain sensitive information. Fraud attempts may involve:
Fraud prevention is most effective when technology, business controls, and employee awareness work together.
Common Fraud Risks Businesses Should Know
Business Email Compromise (BEC)
Business Email Compromise occurs when criminals impersonate a trusted individual, such as a company director, a finance manager, a supplier, or a business partner. The objective is often to convince employees to make an urgent payment or change payment instructions.
- Unexpected urgency
- Requests for secrecy
- Unusual payment instructions
- Changes in normal communication patterns
Businesses should independently verify unusual payment requests using trusted communication methods.
Supplier and Invoice Fraud
Supplier fraud involves criminals attempting to redirect legitimate business payments.
- Unexpected bank detail changes
- New payment instructions without prior discussion
- Requests to bypass normal approval procedures
- Pressure to make immediate payment
- Confirm supplier changes independently.
- Use established contact details.
- Maintain approved supplier records.
- Require internal approval for changes.
Phishing & Social Engineering
Phishing involves attempts to trick individuals into revealing information or taking actions that compromise security. These attempts may appear through email, messaging applications, phone calls, fake websites, or social media.
Common warning signs:- Requests for passwords or verification codes
- Unexpected account notifications
- Suspicious links or attachments
- Requests for urgent action
Account Takeover Attempts
Account takeover occurs when criminals gain unauthorised access to a business account. Methods include stolen credentials, phishing attacks, social engineering, or compromised devices.
Protection measures:- Using strong passwords
- Limiting account access
- Reviewing user permissions
- Monitoring account activity
- Reporting suspicious activity quickly
Payment Redirection Fraud
Occurs when criminals attempt to change legitimate payment destinations. Examples: fake supplier updates, impersonated business partners, false payment requests, or manipulated invoices.
Before changing details, you must:- Verify the request independently.
- Confirm the identity of the requester.
- Follow internal approval procedures.
- Keep records of verification.
Urgent Payment Scams
Criminals often create pressure by claiming that immediate action is required. Examples: "Payment must be completed today", "The supplier account has changed urgently", "Do not contact anyone else", "This request is confidential."
Warning signs: Urgency and secrecy are common warning signs. Businesses should take time to verify unusual requests before making payments.
How Harbix Helps Support Fraud Prevention
Harbix applies security-focused processes designed to support safer payment activity. These include:
- Monitoring transaction activity
- Supporting payment verification processes
- Identifying unusual payment patterns
- Reviewing activity that may require additional attention
- Providing support when customers report suspicious activity
Fraud prevention is strongest when platform controls and customer awareness work together.
What To Do If You Suspect Fraud
- Act Quickly: Contact Harbix as soon as possible.
- Stop Further Action: Avoid making additional payments or sharing further information until the situation has been reviewed.
- Secure Your Access: Review account access and follow recommended security steps.
- Provide Information: Share relevant details that may assist investigation, including: Payment information, Communication records, Suspicious messages, and Transaction details.
Early reporting can help support faster investigation and response.
Building a Fraud-Resistant Business
Businesses can strengthen protection by incorporating these controls:
Frequently Asked Questions
Will Harbix contact me to request my password or verification codes?▼
No. Customers should never share passwords, authentication codes, or sensitive security information with anyone claiming to represent Harbix.
What should I do if I receive a suspicious message?▼
Do not click suspicious links or provide information. Contact Harbix through official communication channels if you need assistance.
Why do criminals target businesses?▼
Businesses often manage larger payments and complex supplier relationships, making them attractive targets for fraud attempts.
Can fraud happen even with secure technology?▼
Yes. Many fraud attempts target human behaviour and business processes. Awareness and strong internal controls remain essential.