Other Fraudulent Activity
Scenario 1: An email is sent from the CEO to the Finance Manager requesting the urgent payment to an unfamiliar beneficiary. Due to the nature of the request, and the fact the CEO is requesting it, the payment is made. It is only later that the payment is questioned, when it is found the email address supposedly from the CEO was in fact incorrect. It was an email address very similar to the real one - maybe only one letter different - so from a casual glance it looked correct.
Scenario 2: A 'supplier' requests you to change the bank account details for a regular payment. You have been dealing with them for a long time and there is a high level of trust between you so you make the changes requested without too many questions or formalities. It is only when the real supplier contacts you to discuss non-payment of your invoices that the fraud is discovered. In both scenarios the key is trust. This is what the fraudsters are relying on. You won't question something from what you believe to be a genuine source, even if the request seems out of character. Why not consider putting some simple checks into your process to prevent the fraudsters succeeding? This could include reviewing the source of the request independently - e.g. reach out via a different channel. You received an email, so make a phone call or vice versa. If in doubt, you can always call Barnes & Scott for guidance.
The two scenarios above are examples of fraud that are particularly common amongst small businesses. As your business grows you will need to start implementing anti-fraud measures and controls to prevent situations like this from arising.