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Cattle producers and livestock agencies are being urged to double check bank account details before paying invoices, following a rise in reports of rural businesses losing substantial financial sums to online invoice fraud.

Scams involving simple adjustments to bank account details on  otherwise legitimate invoices are behind an increase in losses for farming and livestock agency businesses in recent months.

Beef Central has become aware of several cases in recent weeks where family farming enterprises have lost substantial sums of money, in some cases totalling well over $100,000.

Keith Sands, co-principal of Darling Downs rural accountancy firm Sands & Associates’, who is also a cattle producer, said a number of family farming businesses in Southern Queensland have been impacted.

Beef Central is also aware of more cases of cattle producers losing substantial amounts in North Queensland.

One producer lost more than $30,000 to a scam involving false payment on a fencing project, using a fake Westpac BSB account (032885) that has evidently been used for previous cases of fraud.

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