Payment Interception Scam Hits Local Company

A local company in Hong Kong has fallen victim to a sophisticated payment interception scam, where scammers attempted to redirect a large sum of money from its legitimate supplier in Shanghai, China.

The Incident

According to reports, the company received an email purporting to be from its supplier, instructing it to transfer around US$54,000 to a bank account in Hong Kong. However, the managing director of the local entity quickly referred the matter to the Hong Kong Police and reported the incident to the authorities.

FIU Investigation

The Fiji Financial Intelligence Unit (FIU) has issued a report on the alleged fraudulent activity, which is believed to be linked to electronic fraud and business email compromise. The unit’s investigation identified several indicators of suspicious activity, including payment intercepts via electronic communication.

Indicators of Suspicious Activity

• Payment intercepts via electronic communication
• Unusual or suspicious transactions reported in Fiji, including:
  • Money laundering
  • Illegal foreign investments
  • Tax evasion

Separate Incident

In a separate incident, the FIU received reports of scam emails claiming to be from Governor Barry Whiteside of the Reserve Bank of Fiji (RBF). These fake messages and documents were used to provide false RBF approvals for victims to remit funds to secure proceeds of fake lotteries, investments, and loans.

Joint Press Release

The FIU has issued a joint press release with the RBF to raise awareness about these scams and has disseminated the information widely to law enforcement officials and financial institutions. It is essential for individuals and businesses to be vigilant and report any suspicious transactions or emails to the authorities immediately.

Prevention is Key

To avoid falling prey to these scams, it is crucial to:

• Verify the authenticity of emails and messages received from suppliers or financial institutions
• Be cautious of unusual or urgent requests for payment
• Monitor bank accounts regularly for suspicious transactions
• Report any suspicious activity to the authorities immediately

By being aware of these scams and taking necessary precautions, individuals and businesses can protect themselves from falling victim to these types of fraudulent activities.