We got an email saying our supplier's account number changed, we made the payment — found out the truth three days later

bro you went through something really bad. we once got an email saying they were raising prices by 20%. it seemed very strange we called the supplier directly, they said no way. it was an internet scam. always verify with the supplier by phone

In business security: never respond immediately to any email about account number changes or money transfers. Verify by phone. Call the supplier's old number, ask 'did the account change?'. Don't click links in emails type the number yourself.

For the future: 1- Do phone verification before all money transfers, 2- Base it on your accountant (check incoming funds), 3- Share transfer info with company partners upfront (who has low limits, who has high), 4- Limit payment authorities in banking (two-person approval, not one), 5- Get cyber insurance (for financial loss)

I'm curious: was the supplier's name in the email? Because in most fake emails, there's a difference in the 'sender' domain. Not 'tedarici@tedarici.com', but something like 'tedarici@tedaricifalso.com'. Was the name written in Peki or was it just 'manager'?

The simplest trick still works in the computer age: write 'urgent' in the email, slap a logo on it grab the money... tbh unfortunately businesses move fast so they dont pay attention to these things. Call to verify, dont trust the text.

You're right, I've been down that road too. The first thing to break as you grow is communication, not the numbers.

Hasty decisions become decisions you have to fix six months later.

i'm a small business let me explain from my side... the reason for failure isn't one big mistake but the accumulation of small decisions.

if you dont write this down from the start, it leads to arguments later. this is my opinion Im not claiming its absolute truth.

This thread is archived.

I'd say don't rush. If the gap between accounts receivable and accounts payable turnover days is widening, revenue won't save you.

I went through the same thing two years ago. The real issue isn't the number, but what it's based on.

Correct me if I'm wrong.

I agree, and I'd like to emphasize that. Just because everyone does it doesn't mean it's right.

You're right. If you don't write this down from the start, it leads to arguments later.

Hope this helps.

Noted, thanks.

Let me share what happened to me; it might be useful. The real issue isn't the number, but what it's based on.

The real issue isn't the number, but what it's based on. Just leaving this note, it might be useful.

Here's how it went for us. The answer varies greatly by industry; there is no one-size-fits-all rule.

This is my opinion, I'm not claiming it's absolute truth.

There's a part I don't understand. When we decide without measuring, we always end up in the same place.

If you have questions, write them; I'll answer as best I can.

I'd say don't rush. If you get three different answers on a topic, the question was asked wrong.

Hasty decisions become decisions you have to fix six months later.

Good call starting this thread. When making decisions, write down the worst-case scenario too, not just the best.

Hope this helps.