Businesses alerted to online scammers following losses of €700,000

Gardaí are warning businesses about an online scam that has seen fraudsters attempting to steal more than €1.3m within the last month, resulting in actual losses of €700,000, writes Cormac O’Keeffe.    

The criminals purport to be a legitimate supplier of a business and instruct them to send any new payments to a new bank account.

Some of the businesses do so and when they make a payment, that money is quickly transferred or withdrawn.