The Fake Bank Payment Slip Scam: how to spot and avoid it
There’s much to say about the risks of some of the latest payment methods, like Brazil’s PIX payment system and contactless debit and credit cards. But the fact is that, in Brazil and other countries, the good-old bank payment slip is still widely used throughout the country and, for precisely this reason, it remains a target among fraudsters and cybercriminals.
In this article, we’ll look at the different types of scams involving bank payment slips, how they operate, and, of course, how to protect yourself. Let's get started?
WHAT IS THE FAKE BANK PAYMENT SLIP SCAM?
Several strategies are applied in bank payment slip scams. Some are easier to identify and avoid; others are a little more sophisticated and call for a certain level of attention and expertise. Don’t worry, though. We’re going to explain everything you need to know to stay safe!
TYPES OF SCAMS
Fake e-mail scam
One of the most common strategies used by fraudsters in the fake bank payment slip scam is sending a generic e-mail to a victim, while pretending to be an employee of a company of which the person really is a customer, like a streaming service or an electricity supply company. By pretending to represent one of these companies and alleging you have an outstanding account, the cybercriminal tries to get you to pay the bank payment slip without thinking twice.
Mail interception fraud
This scam is a little trickier. In this case, cybercriminals gain access to a victim’s e-mail account – usually through a data leak – and intercept a legitimate billing message, one the victim is likely expecting. The fraudsters delete the original message and then create an account almost identical to the company that sent the bill. They then send a new, and highly credible, e-mail with all the details of the original bill, though now with a fake payment barcode.
Donation scam
Moments of crises and situations that trigger compassion among people are also seen as opportunities by criminals. Be careful if you receive an e-mail or instant message requesting a donation and a bank payment slip is attached! Double your attention and find out more online before taking any action.
Marketplace scam
Obviously, the online store environment couldn’t possibly escape this type of fraud. In this case, malicious vendors send bank payment slips to customers outside of the purchase platform. When paying a bank payment slip not generated by the shopping platform, the victim is no longer eligible for support from the institution and usually ends up with no product and no money.
HOW TO TELL IF A BANK PAYMENT SLIP IS REAL OR FAKE
Identifying a legitimate bank payment slip involves several elements. Whenever a bank payment slip arrives, check the points below to avoid falling victim to a scam.
Have you been waiting for a bank payment slip to arrive?
It may seem obvious, but a reminder may come in handy. Have you really been waiting for a bank payment slip to arrive? Have you recently made a purchase or was some bill set to arrive? If the answer is no, it’s a pretty good sign that the bank payment slip could be fake.
It’s also important to keep an eye out for e-mails in duplicate. After all, if the criminal knows you’re a customer of a certain company and tries to scam you, in the same month, you’re likely to receive both the real and the fake bill. So, if you notice that two bills have arrived in the same period, it’s a sign that one may be fraudulent.
How did this bank payment slip arrive?
Always make sure the origin of the bank payment slip is dependable. Many fraudsters send fake bank payment slips by e-mail, SMS, or another instant messaging app instead of using official channels, like those used by online stores. So, if you’ve made an online purchase or accessed a business website, issue the bank payment slip through the official website.
Are the fields filled in correctly?
Whenever receiving a bank payment slip, whether you’ve been waiting for it or not, read everything carefully. Check information like the due date, the corporate tax ID number, issuer and payer. Also, check for language mistakes on the bank payment slip: they are signs of possible fraud.
Is this amount real?
Check the amount on the document is what you expected to pay. Then, check the number of the bank payment slip (the numerical sequence located below the barcode). The last numbers of the code indicate the amount due. For example, if the last digits are 00002050, the amount to be paid is US$ 20.50. If the amount stated in the code is different from that indicated in the “document amount” field, get in touch with the issuer.
Is the Corporate Tax ID Number correct?
Copy the beneficiary’s corporate tax ID number printed on the bank payment slip into your preferred search engine. Then, check that the company corporate tax number actually belongs to the party claiming payment. If the answer is no, ignore the slip and contact the company via official channels.
I PAID A FAKE BANK PAYMENT SLIP. WHAT SHOULD I DO NOW?
If you fall for the fake bank payment slip scam, you must act as quickly as possible. This form of payment takes up to 3 business days to be processed, so there may still be time to cancel the payment. Take these steps:
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Notify your bank;
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Notify the real company mentioned on the bank payment slip;
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File a report with the police.
If payment has already been processed, there are no guarantees you’ll get your money back. If the company mentioned on the bank payment slip refuses to reimburse you, as does your bank, get in touch with official consumer protection agencies.
Article originally written in Portuguese by Perallis Security Content Team: Golpe do Boleto Falso: como reconhecer e evitar — Perallis Security
