NMBS issues fraudulent bank email warning to merchants

Independent builders merchant buying group NMBS is warning its members and suppliers to beware of fake emails claiming to be from the Buying Society, following an attempt to trick builders’ merchants into sending payments intended for NMBS into a fake account.

In early September a number of NMBS members received an email claiming to be from NMBS, informing them that the buying society had changed its bank account details, requesting that payments be made to a different account, starting from September 2019. In fact, NMBS has not changed its financial information, and the new bank account details were false.

NMBS CyberCrime

Julie Langford, finance & operations director at NMBS, says: “We were very concerned to learn of the attempt to defraud our members by tricking them into sending money to a fraudulent account. The email is completely false and none of our bank details have changed.

“We want to assure our members that we would never contact them by email to announce any changes in our financial or banking details. Email is simply not a secure enough platform to be communicating that type of business-critical information.”

NMBS has detailed security procedures in place to protect against cyber threats and is urging its members to take similar precautions. As standard security practice, if a member contacts NMBS by email or phone asking them to update their financial records about that merchant, NMBS requests the merchant submit a signed letter by post with all the details enclosed. On receipt of the letter, an NMBS representative will then contact the merchant directly to confirm that the request is legitimate, and will send back a letter of confirmation before any bank details are changed.

Langford continues: “These precautions do take extra time, but it ensures the safety and security of NMBS, our members and suppliers – something we take extremely seriously. Cyber crime is a real threat to all businesses and as these types of cyber attack become more sophisticated and more convincing, we must all be extra vigilant.”

For more information, visit www.nmbs.co.uk or call 0116 253 0531.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

Check Also

building site 001

Housebuilding slumps at fastest rate since Covid

Weak growth across Britain’s construction sector picked up modestly in May, despite an increasingly severe …