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0113 246 1234

0113 246 1234

Invoice fraud becoming an increasing problem for businesses

Invoice fraud, which affects one in three companies, involves deceitful practices designed to deceive businesses into making payments to fraudulent accounts.

As fraudsters refine their techniques, it’s important for businesses to understand how they operate and the potential impact on their daily operations.

To help you understand what methods fraudsters use, here are their most common techniques:

While these tactics might seem simple at first glance, they often involve complex and elaborate schemes with multiple layers of deception.

The impact of invoice fraud

Invoice fraud causes companies to lose money immediately by paying into fraudulent accounts, which are often very difficult to recover.

It also triggers time-consuming and resource-intensive investigations into the fraud, disrupting business operations and delaying legitimate payments.

Additionally, becoming a victim of fraud can harm a company’s reputation, eroding trust with clients, suppliers, and stakeholders, and may lead to legal consequences such as fines and scrutiny from regulatory bodies.

Strategies to protect your business against fraud

We suggest protecting your company from invoice fraud by putting the following strategies into practice:

Reach out to our team if you have concerns about this issue – we can assist you in establishing strong financial checks to enhance your protection.

Contact us for further details.


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