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ANZ Warns of Business Email, Invoice Scams

ANZ Bank

ANZ Warns of Business Email, Invoice Scams

ANZ is urging customers to be on alert for the warning signs of business email compromise (BEC) and fake invoice scams, also known as payment redirection scams, as cybercriminals look to take advantage of businesses and individuals by exploiting vulnerabilities in email systems and financial processes.

Small and medium sized businesses are the most common targets for cybercriminals running payment redirection scams, as their technology infrastructure is typically less complicated to infiltrate than larger corporations. Once scammers have hacked into a business’s internal system, they can update invoice payment details and ask for payments to be sent to a new or updated bank account.

The Federal Government’s Annual Cyber Threat Report stated the total self-reported BEC losses were almost $84 million over the 2023-2024 financial year across Australia, with the majority of cybercrime reports lodged by small businesses.

ANZ Scams Portfolio Lead, Ruth Talalla said: “Scams remain an ongoing challenge for Australians, with cybercriminals increasingly adopting sophisticated practices such as BEC and fake invoice scams to exploit consumers.

“We encourage business owners and individuals to be on high alert and double check all details before making any payments. If you receive an unusual or unexpected payment request, notice updated details on an invoice, or are making a payment to a new account, it’s important to verify the details directly with the legitimate company or person before sending funds.”

How to spot these scams:

How to avoid these scams:

ANZ’s customer protection teams and systems operate 24/7. Customers who believe they may have been a victim of a scam should contact us immediately, on 13 13 14 or visit us at http://www.anz.com.au/security/report-fraud/

https://www.anz.com.au/content/dam/anzcomau/mediacentre/images/mediareleases/2025/250410%20-%20Media%20release%20-%20ANZ%20warns%20customers%20to%20be%20vigilant%20to%20business%20email%20compromise%20and%20fake%20invoice%20scams.pdf

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