BANK ACCOUNT CHANGE APPROVAL FORM

NEW OR EXISTING BANK ACCOUNT INSTRUCTION VERIFICATION FORM

Step 1: Caller Information

Name of the caller and function (your name):
Step 2: Supplier Information
Name of the Supplier
Name and Function of the Contacted Person
Supplier Phone Number you are dialing TO
Step 3: Call Information
Date & Time of Call

Signature of the person executing the call

I confirm that I phoned the supplier on a trusted phone number and the
supplier confirmed that the request to change bank details is authentic.

APPROVED BY:
Purchasing, GBS or Finance Representative:

Name and Signature:

Date:

By signing you are verifying that the BorgWarner employee who signed the Bank Account Instruction
Verification form has appropriately followed the call back instructions above. Additionally, the form has
been appropriately completed for internal control purposes.

INSTRUCTIONS
As part of Supplier Bank Account Changes Process, you are required to call the supplier and confirm the
validity of the bank account change request.
BorgWarner was already subject to numerous Phishing Attacks. You should treat this step very seriously
as it is KEY in preventing a Potential Fraud.
Bank Account Change should NOT be executed without the verbal confirmation of the supplier.

Below are the outlined steps you must follow to complete and document the call successfully:
❑ Step 1 – Insert your Details
❑ Step 2 – Insert Supplier’s Details. Make sure the Phone number is the known, trusted one.
Do not use a phone number provided in a supplier email as the details may be fraudulent
❑ Step 3 – Confirm the Bank Account Change Request is valid

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BANK ACCOUNT CHANGE APPROVAL FORM

PAY ATTENTION!
Phishing Attacks General Red Flags:
- E-mail address of the supplier can be slightly modified (e.g. one letter, or the domain)
Legitimate e-mail john.smith@supplier.com
Compromised e- john.smith@supp1ier.com
mails john-smith@supplier.com

- Email address can be masked – hover over the email or hit reply button to check visible address
- Different Beneficiary Name of the new bank account
- There is a sense of urgency and pressure to execute the change (e.g. deliveries would stop)
- Signatures and Stamps from Supplier Change Form can look counterfeited
- Unrealistic reasons to execute the bank account change:
Illustrative examples:

“our local tax authorities have imposed profit-yield audit for governmental tax clearance. We
will not be able to receive payments in it and we will lose 38% of any funds transfer to our
previous bank account”

“our company bank account have been frozen by our bank and cannot receive payments at the
moment due to Tax clearance issues we have with our bankers”

THESE ATTEMPTS CONSTANTLY CHANGE BE SKEPTICAL- communicate with your

supervisor/finance if anything seems “different”

Common Control Failures

- Use of a phone number provided in an email vs a known contact
- Failure to actually reach appropriate supplier personnel but still move ahead because of the
perceived “pressure”
- Failure to disclose to supervisor that supplier could not be reached or process was not
completed
- Even if not a directly sourced by your plant your bank change is your responsibility. Call the BU
or other plant to obtain a proper contact.

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