Digital frauds target RMG export payments

FT ONLINE

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has asked its member factories to remain alert against fraud emails, seeking transfer of export payments from the buyers.

After being informed about such incidents in recent months, the trade body through a circular issued on November 19 brought fraudulent activities by hackers into the light.

A few attempts were made to transfer export payments from western buyers by hacking emails of local readymade garment (RMG) exporters, sources said.

Three RMG exporters have informed the BGMEA that their email information was hacked and the buyers were asked to transfer export payments to other accounts.

In every case, the hackers used almost the same email addresses with a minimal change of a letter of respective companies, they said.

Following such attempts, the BGMEA advised all its members to remain aware of the fraud emails, seeking transfer of export payments from the buyers.

"Five to six months back, one of our units, Space Sweater Ltd., got an e-mail that included payment confirmation with the bank account. The information of bank account came to our notice which seemed confusing," Iqbal Hamid Quraishi Adnan, director of the company, said on Monday.

"We usually send a confirmation email against all documents sent and for making payment. The hacker used almost the same email address with an exception of a single letter," he said.

After identifying that the email was fraud, the authority immediately requested the respective buyer to stop making payment, added Mr. Adnan, also a director of BGMEA.

The company checked the mail and found that the IP (Internet Protocol) address of the email was from beyond the border, he said.

The IP address of the email was from USA sent to one of the company's buyers in the Netherlands, asking to transfer the payment to the account mentioned in the email, he added.

"If we didn't notice the difference, it could result in financial loss," he added.

Mr Adnan said BGMEA received two more such complaints from the members.

"And, we have requested all our members to check all details of email correspondence related to payment and remain aware about digital forgery," he said.