CYBERNIGHT 2025 JURY FAVORITE
In 2021, 2 out of 3 companies were victims of an attempted IBAN fraud, and 1 in 4 companies suffered confirmed fraud—representing 25% of them! Indeed, with the rise of remote work, attacks are becoming increasingly sophisticated and operate across all channels. While individuals were once the targets, cybercriminals now attack organizations, with accounting departments being targeted first. This type of attack is a social engineering technique. Cyberattackers use highly ingenious methods to encourage victims to send confidential data or click on a link leading to an infected website.
What is their modus operandi?
Cybercriminals attempt to impersonate a transfer recipient. Email phishing, SMiShing (SMS phishing), Vishing (fraudulent phone calls): every means is used to obtain the information they need to carry out their scheme—targeting the person who deals with suppliers, calling the supplier while pretending to be the customer, obtaining invoice/order numbers, bank details, and more. Once the information has been obtained, the attacker simply contacts the person authorizing the payment while posing as their supplier and asks them to change the bank details.
If you are the victim of IBAN fraud, or if you have any doubts about a transaction, contact your bank immediately and verify the details of all registered transfer beneficiaries.
How can you protect yourself against IBAN fraud?
Cyberattackers exploit urgency and may even offer you discounts to pressure you into acting as quickly as possible. Take the time to verify every transfer request. Before making a transfer to a new set of bank details, contact your usual point of contact to confirm the information received. Criminals find their information directly online, so limit the sharing of company information on social media. There are many IBAN verification tools available—use them whenever in doubt.
Finally, the best way to prevent attacks is to raise awareness among your employees, as this will enable them to identify fraudulent situations and act accordingly. Cybercriminals try to find weaknesses by extracting information through every possible means. Phishing accounts for more than 50% of attacks against companies. It is therefore essential to train against these threats.
The BlueSecure solution
BlueSecure offers a comprehensive IBAN fraud awareness package: dedicated e-learning training, a knowledge validation test, and phishing campaigns featuring IBAN fraud templates by email, SMS, and phone calls. By combining theory and practice, our offering enables you to raise awareness among all your employees about all the risks they may encounter within your organization.
Do not hesitate to contact us for further information:
