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Beware of invoice fraud

Source: admin Release Time: 22:58:56 2019-05-16

Invoice fraud takes place when a criminal contacts your company posing as a genuine supplier and asks you to change the bank details you use to pay them. It’s not hard for criminals to investigate a business’s invoice details, even down to payment dates, to make their approach look more convincing. If you change the payment details stored on your system, the next time you pay an invoice to the genuine supplier, the money actually goes to an account controlled by the criminal.

Four tips to avoid invoice fraud: 1.Always confirm any bank account details directly with the company either on the telephone or in person before you make a payment or transfer any money.

2.Criminals can access or alter emails to make them look genuine. Do not use the contact details in an email, instead check the company’s official website or documentation.

3.If you are making a payment to an account for the first time, transfer a small sum first and then check with the company using known contact details that the payment has been received to check the account details are correct.

4.Contact your bank straight away if you think you may have fallen victim to an invoice or mandate scam.


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