Onboarding new suppliers and customers properly
Most fraud involving fake companies and fake bank details starts with an inconspicuous step: creating a new master data record. A short, fixed routine prevents many mistakes.
In short
- Check every new partner against the same checklist.
- Always confirm changes to bank details via a known contact channel.
- Keep the result on file so that you can prove the check later.
Onboarding checklist
- Identity: compare company name, legal form and registered office with the commercial register.
- Tax: for partners in other EU countries, obtain a qualified confirmation of the VAT ID.
- Representation: check whether your contact or signatory may represent the company.
- Bank details: check the IBAN for plausibility and compare it with the partner's country.
- Sanctions: screen the company and, where known, its management against the sanctions lists.
- Insolvency: check announcements for insolvency or liquidation.
- Website: compare the imprint with the register data.
- Records: file the check result with the date alongside the master record.
Four eyes principle
Whoever creates a supplier should not also release payments to it alone. Separation is particularly important for changes to bank details. A second person confirms the change after calling the partner on a known telephone number, not the number in the e-mail requesting the change.
Warning signs of shell companies
- The company is very young or has only just moved, but immediately orders large quantities.
- The company name on the invoice differs slightly from the register entry.
- The website has no imprint or an incomplete one.
- The bank account is in a different country from the registered office.
- Pressure is applied: urgent payment, new bank details, an unusual delivery address.
None of these signs proves fraud. But if several occur together, it is worth taking a closer look.
Check again regularly
A partner that looks fine today may move, change management or file for insolvency tomorrow. So check important partners not only at onboarding but regularly, or have them monitored.
Check with Valifex
Valifex brings many of these checks together in one step and documents the result with a check number. Start a free trial with 20 checks in 14 days, or read the FAQ.
This article gives a general overview, as of November 2026. It is not legal or tax advice and does not replace an assessment of the individual case by your tax adviser or lawyer.