Regulation

Fraud Awareness

Fraud impacts countless individuals and businesses every year. To address this, our employees undergo regular training on fraud awareness and prevention. We are equally committed to sharing this knowledge with our customers, ensuring they are equipped to protect themselves and their organisations.

Two common methods of fraud to watch out for include:

Invoice Scams

Criminals may impersonate suppliers by hacking email accounts and requesting updates to payment details. If a supplier asks you to amend payment information, always confirm this verbally over the phone with the beneficiary before making any changes.

CEO Scams

Fraudsters may impersonate a senior manager or director, requesting an urgent payment outside your company’s usual processes. If you receive an unusual or unexpected payment request, always verify it verbally with the individual in question.

How We Help Protect You

Global Connect will verbally confirm any new beneficiaries (not added via our secure online portal) with an authorised user of the account before updating payment details in our system. We encourage you to take similar precautions by verifying any payment details directly with the beneficiary before sharing them with us.

For further guidance on preventing fraud, we recommend exploring the following trusted resources:

Action Fraud: actionfraud.police.uk The UK’s national reporting centre for fraud and cybercrime.

Financial Conduct Authority (FCA): fca.org.uk The UK regulator of financial services firms and financial markets.

National Crime Agency: gov.uk A UK law enforcement agency leading the fight against serious and organised crime.

Take Five: takefive-stopfraud.org.uk A national campaign offering advice to help prevent fraud, including scams involving email and mobile phones.