When your contact details change, or your banking information changes, what should happen?

Further down this article is a proposal that you may adopt as your own and change to suit your requirements and situation!

What happens when your clients receive email communications that your banking details has changed and even supplies a real looking Invoice or Statement, with your logos and details, but a Fake bank Account?

Actual Real Data Case Study:

A client of mine, had a very old email address: arcweld@iafrica.com (@mweb.co.za and many other email addresses would also be succeptable to FRAUD as the domains has limited or NO Security in place like BLOCK SPF, DKIM, etc) the client is ARC WELD ( https://arcweld.co.za )

When anyone sends email on the Internet, receiving email servers can do a check, to see if the IP number sending the email, has permission to send email for that domain name (ALL NKOSI Client Domains have security)

Domains like iafrica.com or absamail.co.za and tens of thousands of other domains – in my opinion, DO NOT HAVE enough security to prevent their clients to easily be defrauded.

This means that: Anyone from any Internet connected device on the planet, can send email as if they are: arcweld@iafrica.com

So, obviously arcweld@iafrica.com or anyone@absamail.co.za or anyone@anynumberofotherdomains ARE not such great email addresses to use for Accounts, Invoicing or for General Business use.

It is very important to have guidance in place for your clients in case your contact information or banking information change

DO NOT: Simply tell your client that your detials will not change DO: Tell your client how it will happen, if it ever happens

Here is an example, which you can add to your Invoices, Statements, Website, Communications, etc:

For Invoices, maybe just below: Good remain the property of XYZ until fully paid, you can add something similiar to our Nkosi Banking Details page:

When or If our banking details change:

  • You will receive a phone call from us
  • You will receive an email from Nkosi Accounts <accounts@nkosi.co.za>
  • The change will be recorded on this page – So, the new account will match the details above
  • When you add beneficiaries, many banks have the facility to “Verify Bank Account” please do consider using that option, if available on your bank
  • If you are not sure or if you suspect any issues, please contact us ASAP

The Nkosi Banking Details Page is here