SCAM AWARENESSVendor bank change fraud
Vendor bank change fraud happens when a criminal pretends to be a supplier you already pay and asks you to send future payments to a new bank account. The message often looks exactly like a normal email from the vendor. If you update the account, your next real payment goes straight to the scammer instead of the business you owe.
How this scam works
Scammers often break into a vendor's email account or create an address that looks almost the same, with one letter changed. They may quietly read old messages to learn who you pay, how much, and when. Then they send a polite note saying the vendor has switched banks, is being audited, or had a problem with its old account.
The email usually includes new routing and account numbers, sometimes on a letter or form that looks official. It may ask you to update the details before an upcoming invoice is due, and it may discourage phone calls by saying staff are traveling. Once the payment is made, the scammer moves the money quickly, and the real vendor later asks why they were never paid.
What it can look like
EXAMPLE · NOT A REAL MESSAGEHi, please note our company has changed banks due to an internal audit. Kindly update your records with the attached account details before paying invoice #4471 this week. Our office phones are being upgraded, so email is the best way to reach me today.
Warning signs
- A vendor suddenly asks to change bank, routing, or account numbers.
- The sender's email address is slightly different from the usual one.
- The message discourages phone calls or says staff cannot be reached.
- There is pressure to update details before a payment due date.
- The new account is in a different name, state, or country.
How to protect yourself
- Confirm any bank change by calling the vendor at a number from your records, not the email.
- Require two people to approve changes to vendor payment details.
- Treat every bank change request as suspicious, even from long-time suppliers.
- Turn on multi-factor authentication for your company's email accounts.
- Keep a written procedure for changing payment details and follow it every time.
If you already responded
- Call your bank right away, explain the payment was fraud, and ask whether it can try to recall or freeze the transfer.
- Contact the real vendor at a known number to warn them their email may be compromised.
- File a complaint with the FBI's IC3 quickly and include the transaction details.
- Change your own email passwords and check for unfamiliar forwarding rules in case your account was also accessed.
- Save all emails, invoices, and bank records related to the change and the payment.
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Where to report it
Common questions
How do I know if a vendor's bank change request is real?
Call the vendor using a phone number you already had on file. Do not use any number, link, or contact listed in the request itself. Ask a person you normally deal with to confirm the change. If you cannot confirm it, do not update the account.
Can a bank get my money back after a fraudulent wire to a fake vendor account?
Sometimes a bank can try to recall a wire if you report it very quickly, but there is no guarantee. Once money is moved out of the receiving account, it is usually hard to recover. That is why calling your bank immediately and filing an IC3 complaint as soon as possible matters so much.
Is vendor bank change fraud the same as business email compromise?
It is one common type of business email compromise. In both, criminals use hacked or look-alike email accounts to trick a business into sending money. Vendor bank change fraud focuses specifically on getting you to redirect regular supplier payments to an account the criminal controls.