Warning after £45k scam on Fife firm

Victim tricked into sending cash for building to fake account

Businesses in Fife have been placed on high alert after a building firm’s email account was hacked and a client’s payment of £45,000 stolen.

The customer transferred the money after receiving a message stating the company’s account details had changed. The crime only came to light when the building firm pursued the payment and confirmed it had made no change to its banking arrangements.

The victim was completing a building project near Cupar.

Sergeant Stuart Hay, of Cupar police station, confirmed computer hacking had taken place.

He said: “The clients received an email from the trusted email address of their builder and complied with the request to send payment to a new account.

“For small local firms, the loss of such high revenue could be disastrous.”

A client who commissioned a builder to construct a new home in a rural Fife hamlet has been conned out of more than £45,000, police have revealed.

Officers have issued a security warning to businesses following the shocking incident, which took place on Wednesday last week.

The high-value fraud was committed after a building firm was asked by a client to build a new property in the Cupar area, with payment for the work being provided upon receipt of invoices.

The clients later received an email, purportedly from the builder’s bank, providing new account details into which the outstanding balance of the invoice should be transferred.

More than £45,000 in cash was transferred to the new account but, after the builder confirmed he had not received payment or sent any email with amended bank details, police were contacted.

Sergeant Stuart Hay, of Cupar Police Station, said investigations have since established the genuine email address was hacked and others are now being urged to ensure they have appropriate web security in place.

“The clients received an email from the trusted email address of their builder and complied with the request to send payment to a new account,” he said.

“It was not until the builder found that no new funds had been deposited in his bank that the hack was identified and our investigation is now under way to identify those responsible.

“For small local firms, the loss of such high revenue could be disastrous and we would urge all businesses to make sure their email accounts, websites and all other means of engaging with customers have all the necessary security in place to safeguard themselves against hackers and scammers.

“For members of the public, the loss of such money can have life changing implications and we would urge the public to remain vigilant against this type of crime, checking the authenticity of material changes to where payments are sent.

“If you have information relating to this incident please come forward.”

It is understood the money was transferred into another bank account, although discussions are ongoing with the banks in question in an effort to try and recoup the stolen cash.

Anyone with information can contact Police Scotland via 101 and quote incident number 712 of June 6.

The clients received an email from the trusted email address of their builder and complied with the request to send payment to a new account. SERGEANT STUART HAY