Protecting Your Business

The increasing digitisation of industry plays a vital role in business growth. But it also brings risk.

Cybercrime targets victims from private individuals to large corporates, through various forms of phishing and illicit installations of malware. The results are lost income, reputational damage, financial loss and ransomed data.

While the majority of criminals have quite basic technical capabilities, attacks are increasingly enabled by sophisticated tools available in the online criminal marketplace. With some criminal groups even industrialising their activities, cybercrime is evolving and growing fast.

'Ransomware' attacks have grown, leveraging threats to publish data online, or block its use. Targeted fraud is a rising cost for individuals and businesses.

For more information on common cyber-attacks and how to better protect your company from fraud and scams, please visit: https://www.hsbc.com/online-security

Act immediately to minimise the damage from fraud and to ensure the best chance of recovering funds.

• Stop all communication with the scammer.
• Alert any relevant parties (employees, customers, and financial institutions). It is extremely important to contact the bank with a view to initiating a payment recall as soon as possible. Funds move very quickly and it can be very difficult to get funds returned once they have gone.
• Report the scam to the appropriate authorities.
• Review your financial records to identify any unauthorised transactions or suspicious activity.
• Keep all documentation related to the scam, including emails, invoices and any other correspondence.
• Review and update your security policies and procedures.

If you believe that a bank transfer or payment that you haven't authorised is fraudulent, or you suspect your company’s security has been compromised in any way, please contact your Relationship Manager immediately, through a known and legitimate communication channel, and provide the fraudulent transaction details and pertinent information including (where applicable):

• HSBCnet Customer ID
• Customer Name
• HSBCnet User ID
• IRN (Instruction Reference Number for the HSBCnet payment)

You can also contact our HSBCnet Fraud Operations Team directly, if you have any further questions or concerns (lines open 24 hours a day, 7 days a week):

• International +1 778 452 2774
• Email: wholesale.digital.fraud.control@hsbc.com

We recommend that you also contact one or more of the following entities if you believe you are or have been the victim of fraud:

• Your local state or territory police on 131 444 or by their website
• The Australian Cyber Security Hotline 1300CYBERI (1300 292 371)
• Report the matter to ReportCyber.gov.au