How to Spot Invoice Fraud Emails

Invoice Fraud is becoming increasingly common. But being armed with the right knowledge can help you to recognise these fraudulent emails and stay one step ahead of the fraudsters.

Invoice fraud is a scam that involves sending out fake invoices to companies with the hope of financial gain. Companies are targeted by their size and with this, they narrow down what suppliers they might use regularly. They will then send out invoices from one of the listed suppliers asking for payment.

While the invoices might look legitimate, there are a few key things to look out for, such as:

• The company address is often wrong
• There are spelling mistakes and other errors
• They will ask for payment low enough to not raise any concern or suspicion

So, how do you protect yourself from this?

Firstly, always thoroughly read the invoices. Mistakes are made in these invoices, so be vigilant and keep an eye out for them. If there are any mistakes or anything different from previous invoices you’ve received in the past, be cautious. Most emails that come through are stating that their bank details have changed. While this isn’t unheard of, always double check the details with the company by phone, and use the phone number you already have for them. NEVER call the phone number in the email you’ve received asking for payment or giving new bank details.

If you have received these emails and are unsure on how to protect yourself and your business, call us and we can help. Your online safety is paramount to us and we are always willing to give quality advice and guidance on how to better manage this.