Signum Services Alert: Fraud Warning (Ukraine)

The shocking events that are unfolding daily in Ukraine are truly dreadful. The consequences of sanctions and restrictions will have numerous implications across the globe.

One lesson that we learned from the COVID 19 pandemic was that, sadly, in times of chaos and uncertainly criminals are quick to seize on the opportunities presented by such events, no matter how distressing they may be.

With this in mind, now may be an appropriate moment to highlight the danger of fraud. At this time, colleagues, members and their staff should practice higher levels of awareness and vigilance in financial transactions and in all aspects of general online security.

Cyber criminals, whether they be state actors, organised crime groups or individuals are likely to use the current events and rising tensions to instigate attacks such as payment diversion frauds and other interventions  as seen with the ‘Not Petya’ cyber virus that caused widespread disruption in 2017.

Signum advises everyone to maintain high levels of alertness and to avoid complacency.

BE VIGILANT AND ALERT TO ALL REQUESTS TO CHANGE PAYMENT DETAILS AND DESTINATION ACCOUNTS.

Previous Signum Loss Prevention Bulletins on this subject can be found at:

https://www.ukpandi.com/news-and-resources/bulletins/2014/1014---1214---invoice-frauds---worldwide/

https://www.ukpandi.com/knowledge-publications/article/1112-09-16-cyber-fraud-worldwide-136005/

https://www.ukpandi.com/loss-prevention/article/1146-12-17-cyber-fraud-reminder-worldwide-141673/

 

Useful resources:

The United Kingdom National Cyber Security Centre also provides cyber awareness advice: www.ncsc.gov.uk

Michael Carroll

UK P&I

David Thompson

UK P&I

Date02/03/2022

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