Invoice Redirection Fraud: Avoid being scammed or impersonated

There has been an increase in cybercriminals impersonating businesses and suppliers, accessing emails, intercepting invoices, changing bank account details and robbing the invoice amounts from the customer leaving the invoice unpaid with the supplier or business.

How to avoid paying a fraudulent invoice

It is important to review invoices carefully each time you receive one. The best way to verify an invoice is to check with the supplier each and every time by calling them using a phone number known to you, listed against the business, not the invoice.

When reviewing an invoice make sure you keep a watch out for:

  • If it was sent from a slightly altered email address.
  • Alterations on invoices including low quality graphics or mismatched fonts.
  • Spelling and grammatical errors.
  • Unusual amounts or descriptions of products and services.
  • Different bank account details or ‘how to pay’ information from previous invoices.

To avoid being a victim of Invoice Redirection Fraud, it is recommended you:

  • Store supplier bank details in the internet banking payee list or in your accounting software rather than entering in the BSB and Account Number each and every time.
  • Introduce processes where only certain people are allowed to change payment details and approval processes when bank details do change.
  • Where possible use a business’s PayID and ensure it is linked to the correct PayID holder.
  • And again; Verify any bank account changes by phone using pre-existing phone number (known to you, not on the invoice).

If you have questions in relation to the above, or any other matters, please do not hesitate to contact our office on 1300 620 345.

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