Invoice fraud is, unfortunately, becoming more common as businesses are estimated to lose almost £300,000 every year to this method of fraud.
One in five finance professionals have admitted that they could not estimate the cost that invoice fraud is causing them.
It involves a fraudster contacting your company and alleging that payment details have changed and providing different ones in an attempt to be added to the invoice list.
But who is responsible for preventing or spotting this?
It might be hard for you to determine whether this issue should be looked at by the IT or finance departments within your company.
How can you or your employees prevent this?
By initiating these practices and being more aware of invoice fraud, you can help to decrease the amount of money you would otherwise be losing each year.
For advice on this, contact us today.
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