What measures do you have in place to avoid payroll fraud?

We hear every day of cyber criminals stealing from people through online scams. These very sophisticated scammers are now targeting Payroll departments.

We had a client recently, who had received an email from what they thought was an employee. The email address appeared the same, it was addressed to the correct Payroll member of staff in the department and was personalised with the type of wording that the employee would use, asking for their bank details to be changed to a different account. It was in fact, a phishing email from a scammer posing as the employee. The fraud didn’t come to light until payday, when the employee queried why they didn’t get paid. After investigation and a conversation with the bank the scam was discovered.

This prompted them to set up new procedures, and to not only rely on digital communications for such important requests. They now ask for a form to be singed and handed personally to a manager and also a physical discussion with the worker, either by telephone or in person. By doing extra checks, this should ensure you don’t fall victim to cyber fraud.

What measures do you have in place to avoid this type of payroll scam?

Don’t forget, that In the Sage 50 Payroll software, you can use a link to create an e-payment upload file that can be uploaded to your banking software, so you don’t have to key everything in manually. If you have compatible banking software, you can reconcile and pass payment details electronically to your bank.

If you would like information on Sage 50 or Sage Business Cloud software and training, please Get in touch.

Or if you are currently using Sage software, why not join one of our Sage Accounts Facebook Support Groups? You will be able to pick up advice and tips and if you’re not sure of anything you can ask one of our 2,000 members.

20/09/2022

“Any advice relating to accounts or tax should be sought from your tax accountant. Sage Accounts Solutions Limited will not be held responsible for any loss or damage caused as a result of the information contained herein.”

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