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

 Invoice Fraud, Global In Reach, As GDPR Looms
 Invoice Fraud, Global In Reach, As GDPR Looms
May 16, 2018  |  B2B Payments

 As new compliance rules loom – GDPR and CDD – new acronyms (and mandates) make companies scramble to get to know their suppliers a bit...

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NatWest, Vocalink Analytics Go After Invoice Fraud
NatWest, Vocalink Analytics Go After Invoice Fraud
April 04, 2018  |  B2B Payments

U.K. bank NatWest is teaming up with payments company Vocalink Analytics to tackle B2B invoice fraud, the firms announced in a Tuesday (Apr. 3) press...

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US Judge Sentences Man For $25M Supplier Invoice Scam
US Judge Sentences Man For $25M Supplier Invoice Scam
December 18, 2017  |  B2B Payments

A U.S. judge has sentenced a Nigerian man to three years and five months in prison for his role in a business email compromise scam....

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FinServ Has The Power To Combat Invoice Fraud
FinServ Has The Power To Combat Invoice Fraud
March 29, 2017  |  B2B Payments

A new report from Global Financial Integrity (GFI) is highlighting the contribution fraudulent trade invoicing makes to the $2.2 trillion in transnational crime every year....

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China Tackles Trade Invoice Fraud To Stunt Capital Outflow
China Tackles Trade Invoice Fraud To Stunt Capital Outflow
May 06, 2016  |  B2B Payments

Hong Kong is looking to curb the illegal outflow of capital from China, the apparent result of fake trade invoices, reports said on Thursday (May...

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Businesses Are Blindly Paying Fake Invoices
Businesses Are Blindly Paying Fake Invoices
December 03, 2015  |  B2B Payments

The business email scam can take many forms, often leading to a company receiving a seemingly legitimate invoice from a seemingly legitimate supplier. Authorities in...

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Fake Invoicing Returns To Haunt Chinese Trade Sector
Fake Invoicing Returns To Haunt Chinese Trade Sector
October 14, 2014  |  B2B Payments

What initially seemed like an accomplishment, Hong Kong overtook the U.S. as the top destination for Chinese goods and materials.  Now it seems like that...

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