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

Ireland’s Growing Invoice Redirect Fraud Problem

Ireland’s Growing Invoice Redirect Fraud Problem
Ireland’s Growing Invoice Redirect Fraud Problem
May 17, 2019  |  B2B Payments

Authorities in Ireland have warned businesses about a rise in “CEO fraud” that gets unwitting victims to pay up in invoice redirect fraud. Separately, individual...

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UK Businesses Lost £93M Last Year Due To Invoice Fraud
UK Businesses Lost £93M Last Year Due To Invoice Fraud
March 25, 2019  |  B2B Payments

A new report has revealed that invoice fraud cost U.K. businesses £93 million ($122.8M USD) last year. But despite the losses, more than four in...

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Report: One In Seven UK SMBs Hit By Invoice Fraud
Report: One In Seven UK SMBs Hit By Invoice Fraud
March 15, 2019  |  B2B Payments

In the UK, invoice scams are still gaining traction, and significantly so among smaller firms, according to Barclays.  Elsewhere, in North America, finds another study,...

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Study Finds Half Of UK Firms Vulnerable To Invoice Fraud
Study Finds Half Of UK Firms Vulnerable To Invoice Fraud
March 08, 2019  |  B2B Payments

Invoice fraud is on the rise in the UK, with half of all businesses exposed, according to a Santander study.  Separately, a US college campus...

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AP Professionals Often Their Own Biggest Hurdle In Automation
AP Professionals Often Their Own Biggest Hurdle In Automation
November 21, 2018  |  B2B Payments

Outsourcing key functions of the enterprise may allow professionals to finally turn their attention away from the minutiae of manual processes and toward more strategic,...

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South Africa Government Losing Billions To Trade Mis-Invoicing
South Africa Government Losing Billions To Trade Mis-Invoicing
November 21, 2018  |  B2B Payments

Analysts estimate the South African government has lost a total of about $37 billion as a result of misinvoicing in its global trade operations. Get...

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Invoice Fraud Hits Microsoft?
Invoice Fraud Hits Microsoft?
October 19, 2018  |  B2B Payments

Invoice fraud — changing details so that money is routed to fraudsters’ bank accounts — may have hit Microsoft through one of its own employees. Elsewhere,...

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In Payments Fraud, Impersonation Gets Personal
In Payments Fraud, Impersonation Gets Personal
September 07, 2018  |  B2B Payments

In the U.K., it’s well known that late payments bedevil firms – but what of payments fraud? Impersonation fraud, also known as business email compromise...

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Phishing Amid The Sea Of Invoice Fraud
Phishing Amid The Sea Of Invoice Fraud
August 24, 2018  |  Fraud Prevention

If the saying is that there is nothing new under the sun, only new ways to say it, then let’s extend the sentiment to payments....

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