What is Invoice Fraud?

The National Crime Agency (NCA) has urged businesses to strengthen their defences against invoice fraud - a crime that continues to cost UK organisations millions of pounds every year.

What is Invoice Fraud?

Invoice fraud is typically when criminals pose as suppliers to send fake invoices with payments directed to fraudulent accounts, or request changes to bank account details on genuine invoices. In some cases, fraudsters gain access to legitimate email accounts, making requests appear authentic.

The key message here is that it’s worth stopping and examining each invoice request before paying.

To help reduce the risk:

• Verify requests to change bank account or payment details by contacting the supplier using a trusted telephone number.

• Check invoices carefully against purchase orders, previous invoices and expected amounts before making payment.

• Be alert to unexpected requests, duplicate invoices, poor spelling or formatting, unfamiliar email addresses and unusual messages.

• Ensure there are clear payment approval procedures, particularly for high-value or unusual transactions.

• Train team members to recognise the warning signs and encourage them to question anything that seems unusual.

  
  

If you believe you have been targeted by invoice fraud, contact your bank immediately. Acting quickly can improve the chances of stopping or recovering the payment.

For further guidance, visit the National Crime Agency’s advice on invoice fraud: https://www.nationalcrimeagency.gov.uk/news/nca-and-natwest-launch-campaign-to-protect-against-invoice-fraud-in-business