Call the supplier on a phone number you already hold, not one in the email, and read back the account details. Check that the account is in the supplier company's exact registered name, at a bank in India, and that it matches earlier invoices. Treat any change of bank details by email as suspicious until confirmed by phone.
Invoice fraud usually works by hacking or imitating an email account and sending new bank details just before a payment. It is common in international trade, and agri trade is no exception.
Checks on every new supplier
Indian businesses commonly provide a cancelled cheque or a bank letter confirming the account. It is not proof on its own, as documents can be forged, but it adds one more check.
- The account holder name matches the company on the contract, IEC and GST registration.
- The account is a current account in the company's name, not a personal or third-party account.
- The bank is in India, in the same country the goods ship from.
- The SWIFT code matches the named bank and branch.
- The IFSC code, India's branch code, is consistent with the branch named.
- The details are on company letterhead, signed, and confirmed by a call to a known contact.
Warning signs
- A request to change the account, especially just before a balance payment.
- An account in another country, or in a different company or person's name.
- Emails from an address that differs slightly from the usual one.
- Pressure to pay fast, or excuses such as an audit or a frozen account.
- A phone number in the email signature that you have not seen before.
- Refusal to confirm details on a video or phone call.
Habits that protect you
Record verified bank details once, in your system, at the start of the relationship. Any change goes through a fixed process: a phone call on a known number, written confirmation on letterhead, and approval by a second person in your team.
For a first payment, some buyers send a small test amount and ask the supplier to confirm receipt and the exact amount by phone. That confirms the account works and is controlled by the supplier.
Use secure email, two-factor login and caution with attachments. Ask the supplier to do the same.
If you think you were targeted
Contact your bank at once and ask it to try to recall the payment. Speed matters. Report it to the police in your country and inform the supplier through a known channel. This is general guidance, not legal advice. For payment structure, see is a 30 percent advance safe.
How we help
We confirm the supplier's legal identity and registrations during the supplier check and can verify bank details directly with the company's management. You still pay the supplier directly, never through us. Ask for a free sourcing review.