- Action Fraud is issuing a warning as reports show that fraudsters are registering domain names to look like they belong to UK university email addresses.
- UK and European supply companies are being defrauded out of vast sums of money as a result of this.
- Fraudsters imitating one university’s address lead to a total victim loss of over £350,000.
How the fraud works
This type of fraud, known as European distribution fraud, happens when a company from overseas (usually from Europe) delivers products to the UK, but isn’t paid for the goods or the cost of shipping.
Fraudsters are registering domains that are similar to genuine university domains such as xxxxacu-uk.org, xxxxuk-ac.org and xxxacu.co.uk. These domains are used to contact suppliers and order high value goods such as IT equipment and pharmaceutical chemicals in the university’s name.
Suppliers will receive an email claiming to be from a university, requesting a quotation for goods on extended payment terms. Once the...
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