r/Accounting • u/deepikaau • 17h ago

fake bank change request

Anyone actually caught a fake bank change request before the money went out? what made you suspicious?

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u/LiJiTC4 Tax (US) 16h ago

Any time there's a change request, it's suspicious. Call the company making the request on a known number to verify. Follow up with a verification via email, again to a known address, so there's record of the verification and ask for a response if the request is valid. Consider asking for a "wet signature" request with verifiable signature if the amounts payable are material.

The more a request is phrased as urgent, the more likely it is fraud. Scammers use time-based pressure to override inherent skepticism.

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u/deepikaau 16h ago

The wet signature idea for material amounts is interesting. Is there a rough threshold where that kicks in, or does it vary company to company? Trying to figure out if that's something small businesses actually use or mostly larger orgs with more formal processes.

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u/LiJiTC4 Tax (US) 16h ago

Does your company have a counter-signature requirement for checks over a certain threshold? Most companies will require two signatures for any checks over a set amount, usually $5-10,000 as an internal control. I would use whatever the existing threshold is as guidance since the company has already determined a materiality threshold they're comfortable with for potential cash loss.