Combatting invoice fraud together!

Invoice fraud involves deceptive practices that trick businesses into paying for fraudulent accounts. Cybercriminals are constantly becoming more sophisticated and intelligent in their tactics, which increases the potential impact on business operations.

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Some techniques to be aware of:

Fake Invoices: Cybercriminals create counterfeit invoices that may appear to be legitimate. However, in reality, they are littered with fake details claiming to be from a reputable source. It can be a challenge to distinguish between the real and the fake.

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Phishing Attacks: Many employees will fall victim to phishing attacks, tricking employees through emails to give away sensitive information.

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Change of bank details: Fraudsters pose as suppliers and inform companies of a change in bank account details. Anyone who carries out these steps will be voluntarily giving away bank details to a fraudster.

Most techniques that cybercriminals use are simple but easy to fall for. When your employees fall victim to a scam, your business can be put at a major risk. It is more important than ever that you and your team work hard to mitigate risks.

Employee training:

-       Educate your staff on standard techniques used by cybercriminals and the importance of verifying any payment requests with the correct department or official contact.

       We offer cyber security training so you can test your employees by sending phishing emails and monitoring the links they click.

Verification processes:

-       Establish a robust process for detailed updates and directly verify new or altered information with all suppliers.

-       Ensure you have an established and trusted contact with all suppliers to make this process hassle-free.

Share responsibility:

-       Ensure you divide financial responsibility amongst your employees, building a workforce specifically checking invoices and supplier details.

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It is of the utmost importance that you are aware of the risks to your business and that your employees are educated on cyber threats.

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If you are worried about your cyber security, chat with our team and see what we can do for your business.

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