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Dear Valued Client,

As we approach the holiday season, and taking into consideration the “new
normal” Covid conditions, we would like to raise awareness on the increased
fraud risk faced by financial institutions and their clients.  At MUFG we are
committed to supporting you in reducing the risk of fraud and ask that you
remain particularly alert to the following set of circumstances which may lead
to an attempt to commit fraud:

- Contact from an unknown party you have not initiated

- Urgent requests to transfer funds

- Contact made just before or after lunch time or near the end of a standard
workday

- Change of beneficiary bank details  (change in country location, unrealistic 
explanations e.g. bank account is being  audited therefore the account cannot be
used for a month, etc)

- Request to change employee bank account details (diversion of salary payment)

- Request to disclose your banking related confidential information including
bank account numbers, online banking details, identity of authorised
signatories, passwords or access codes. Such requests will never come from MUFG.

Fraud Trends

Business Email Compromise (BEC) fraud remains the most common typology that
firms are experiencing. A fraudster impersonates your senior manager or a known
customer via email to deceive an employee to transfer funds.

BEC methodologies include: 

- Fraudulent invoice: received from a similar email address as a known supplier
with a request to change bank details resulting in funds being diverted

- CEO fraud: an authoritative figure is impersonated to apply pressure to action
fund transfer

- Account compromise: breach of account details to legitimise subsequent
correspondence

Furthermore, there has been an increase of fraud attacks via the use of phones. 
In some cases, fraudsters have been known to use deepfake technology so that
they sound like the person they are impersonating, resulting in the employee
feeling secure that they are conversing with someone they know and that
instructions/communications are genuine.

Reduce the risk of fraud

It is always advisable to ensure we are proactive in preventing fraud instead of
being reactive.  Please see the below steps to protect your organisation against
fraud:

Please do not:

- Click on links or open attachments if unsure of the email source

- Feel pressured to respond to a request

- Override internal controls

- Share passwords, have easy to guess passwords or keep passwords in plain sight

Please make sure you:

- Take time to validate requests and check that your internal procedures for
authorising, sending and executing fund transfer requests are as strong as they
can be and that your colleagues are fully aware of the process and the Fraud
risks that organisations face

- Validate requests to change bank account details using contact details not
within the request correspondence

- Email the employee’s work email when receiving a request to change bank
account details for salary payments to validate if the request originated from
them

- Independently double check validity of transactions if prompted by MUFG

- Challenge the transaction request if it does not follow your usual internal
procedure. If it "feels" wrong you should escalate internally before any
transaction approval is given.

Reporting fraud to MUFG

If you suspect fraudulent activity in connection with your MUFG accounts, or
come across facts or circumstances that raise any concerns, please contact your
MUFG Relationship Manager as soon as possible with the following information:

- Date, amount and beneficiary bank details related to the transaction

- Information on how the incident that may amount to fraud occurred.



In any circumstance where you suspect fraud has taken place, it is important for
you to seek legal advice to ensure you are aware of your rights and obligations,
including the need for you to contact or notify the relevant authorities as
appropriate.


Yours faithfully,

MUFG Securities EMEA plc
 

This email including any attachments is confidential and may be subject to legal
privilege. Unless otherwise indicated, you may not disclose or distribute this
email to any other person. If you are not the intended recipient of this email,
please delete it and notify the sender immediately.

MUFG Bank, Ltd. ("MUFG Bank"), MUFG Securities EMEA plc ("MUS(EMEA)"), MUFG
Securities (Europe) N.V.(“MUS(EU)”) and Mitsubishi UFJ Financial Group, Inc.
("MUFG Inc.") are members of the MUFG group.

 * MUFG Bank is a limited liability stock company incorporated in Japan and
   registered in the Tokyo Legal Affairs Bureau (company no.0‌100-01-0‌08846).
   MUFG Bank's head office is at 7‌-‌1 Marunouchi 2-Chome, Chiyoda-Ku, Tokyo
   1‌00-8‌388, Japan. MUFG Bank's London branch is at Ropemaker Place, 2‌5
   Ropemaker Street, London EC2Y 9AN, ‌and is registered as a UK establishment
   in the UK register of companies (registered no. BR002013). MUFG Bank is
   authorised and regulated by the Japanese Financial Services Agency. MUFG
   Bank's London branch is authorised by the UK Prudential Regulation Authority
   ("PRA") and regulated by the UK Financial Conduct Authority ("FCA") with
   limited regulation by the PRA.
 * MUS(EMEA) is a limited liability company registered in England (company no.
   1‌698498) with its registered office at Ropemaker Place, 2‌5 Ropemaker
   Street, London, EC2Y 9AJ.‌ MUS (EMEA) is authorised by the PRA and regulated
   by the FCA and PRA in the UK.
 * MUS(EU) is a limited liability company registered in the Netherlands (company
   no. 71213376) with its registered office at Level 11, Tower H, World Trade
   Center, Zuidplein 98, 1077 XV, Amsterdam, The Netherlands.‌ MUS (EU) is
   authorised and regulated by the (Netherlands Authority for the Financial
   Markets) AFM and the De Nederlandsche Bank (DNB) in the Netherlands.
 * MUFG Inc. is a limited liability stock company incorporated in Japan and
   registered in the Tokyo Legal Affairs Bureau (company no.0‌100-01-0‌73486).
   MUFG Inc.'s head office is at 7‌-‌1 Marunouchi 2-Chome, Chiyoda-Ku, Tokyo
   1‌00-8‌388, Japan. MUFG Inc.'s London office is at Ropemaker Place, 2‌5
   Ropemaker Street, London EC2Y 9AN, ‌and is registered as a UK establishment
   in the UK register of companies (registered no. BR015994).

Details on how MUFG Bank, London branch, MUS (EMEA) and MUS(EU) process personal
data relating to individuals associated with our clients are on the MUFG EMEA
website
at: http://go.pardot.com/e/881262/governance-privacy-notice-/281trn/178719423?h=1-W18vLAFZEp13wqkzfxjR0kWBjkr34Nrv9yTA0tYQ4

Unless specifically indicated, this email should not be regarded as an offer,
advice, recommendation, confirmation or valuation in relation to any financial
products or services and any views expressed are those of the author only. If
information in this email constitutes an investment recommendation provided by
MUS(EMEA) as defined in EU (MAR) Regulation 596/2014, additional disclosures are
available
at http://go.pardot.com/e/881262/governance-privacy-notice-/281trn/178719423?h=1-W18vLAFZEp13wqkzfxjR0kWBjkr34Nrv9yTA0tYQ4 Information
in this email may be subject to change without notice. Emails cannot be
guaranteed to be timely, secure or error or virus-free, and members of the MUFG
group accept no liability for such matters. Members of the MUFG group may record
and monitor emails and disclose them where relevant in litigation or to
regulators. Copyright © 2021, All rights reserved.


MUFG Bank, Ltd
MUFG Securities EMEA plc
MUFG Securities (Europe) N.V.
Members of MUFG, a global financial group
www.mufgemea.com

Our mailing address is:

MUFG EMEA GROUP
25 Ropemaker Street
London, EC2Y 9AN
United Kingdom

Copyright © 2021, All rights reserved.

Our mailing address is:

MUFG EMEA GROUP
25 Ropemaker Street
London, EC2Y 9AN
United Kingdom

Copyright © 2021, All rights reserved.