Secure Business

SEPA direct debit or SDD fraud

These frauds mainly affect associations and non-governmental organisations financed by donations. Their websites normally give the account number to which donations can be paid.

Malicious people will abuse this account number to set up fraudulent recurring direct debit payments.

How does it work?

1.      There are malicious people who use the bank account numbers of associations seeking donations to set up direct debits for their recurring payments.

2.      The debits go unremarked, sometimes for long periods, because they are buried among all the donations paid to the account. When the association's accounting department realises the deception, it is clear that the fraud already dates back several months. 

How can you protect yourself?

First of all, if you identify debits from your account that are not due and these debits are linked to a direct debit (SEPA Direct Debit), you yourself can recover the wrongly debited amounts from your Home Bank or Business Bank retroactively for eight weeks.

Beyond this period and for up to thirteen months, you can likewise recover the amounts wrongly debited from your account by contacting your bank.

Once this period has expired, you must bring a complaint against the fraudster. The court will rule on the repayment of the hijacked amounts.

You can protect your account against undue SDD collections using the whitelisting function. This option allows you to block any SDD payments from your account apart from withdrawals made by third parties which you have listed. Contact your bank to obtain more information on this function.