Invoice Fraud

Invoice fraud is when fake invoices are sent to targeted businesses in an attempt to extract money from companies with vulnerabilities in their accounts payable processes.

Source: blog.procurify.com

Mark Cuban Among Professionals Who Have Faced AP Fraud

Mark Cuban Among Professionals Who Have Faced AP Fraud
Mark Cuban Among Professionals Who Have Faced AP Fraud
February 10, 2020  |  B2B Payments

From payroll to accounts payable (AP), B2B payments fraud continues to threaten organizations of all sizes, industries and geographies. Get the Full Story Complete the...

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The B2B Payments Fraud Threat Of Internal Employees
The B2B Payments Fraud Threat Of Internal Employees
January 13, 2020  |  B2B Payments

It was a difficult week for businesses getting hit with cyberattacks, with foreign currency company Travelex among the most high-profile of recent cases. The currency...

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Law Enforcement Cracks Down On Corporate Payments Fraud
Law Enforcement Cracks Down On Corporate Payments Fraud
December 23, 2019  |  B2B Payments

Payments messaging technology provider SWIFT recently opened up its Know Your Customer (KYC) platform, the KYC Registry, directly to corporates. The initiative enables 2,000 corporate...

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FinServ Providers Lift Some Of B2B’s Fraud Burden
FinServ Providers Lift Some Of B2B’s Fraud Burden
December 02, 2019  |  B2B Payments

As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are...

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Blank Checks And PO Manipulation Cost Businesses Millions
Blank Checks And PO Manipulation Cost Businesses Millions
November 04, 2019  |  B2B Payments

This week, three new cases of accused internal fraud emerged, showcasing the variety of ways employees can steal company cash. Invoice and purchase order manipulation,...

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Some Fraudsters Go Low-Tech To Grab Credit Card, Personal Data
Some Fraudsters Go Low-Tech To Grab Credit Card, Personal Data
September 23, 2019  |  B2B Payments

Paper checks, photocopies.  Fraudulent companies.  Banks and other firms may think payments fraud is all about BEC, but low-tech also has its place in the...

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Toyota Unit Loses $37M To Vendor Payment Fraud
Toyota Unit Loses $37M To Vendor Payment Fraud
September 10, 2019  |  B2B Payments

A subsidiary of automaker Toyota has lost millions of dollars thanks to a vendor payment scam, according to SC Media UK reports. The publication said...

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Ex-Sabre Exec Pleads Guilty In Invoice Fraud Case
Ex-Sabre Exec Pleads Guilty In Invoice Fraud Case
July 05, 2019  |  B2B Payments

A former executive at corporate travel technology firm Sabre Airline Solutions has reportedly reached a plea deal with prosecutors following allegations of invoice and wire...

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How False-Positives Complicate The B2B Payments Fraud Fight
How False-Positives Complicate The B2B Payments Fraud Fight
June 20, 2019  |  B2B Payments

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. Between data breaches exposing customer details and card information and the...

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