This presentation from the UK’s National Crime Agency (NCA) and National Economic Crime Centre (NECC) provides guidance on preventing invoice fraud, a common type of business fraud where criminals send fraudulent bills requesting payment for goods or services.
The document outlines four main types of invoice fraud: fake invoices (fraudulent bills often claiming overdue payments or threatening credit rating damage), duplicate invoices (submitting the same invoice multiple times), pay-in-advance fraud (requesting upfront payments for goods/services that never materialize), and internal fraud (employees creating or altering invoices to deceive their own company).
Key prevention measures include verifying payment details for new suppliers through small test transfers and phone confirmation, checking any requests to change existing supplier payment details using trusted contact information, and being cautious of urgent payment requests. The guidance emphasizes educating staff about fraud risks, reconciling invoices with purchase orders, and maintaining awareness of warning signs.
Critical red flags to watch for include urgent requests for large or unusual payments, requests to change bank details or set up new suppliers, invoices that don’t align with previous payments, changes in supplier information, unexpected invoice amounts, and inconsistent language in correspondence.
The presentation concludes by directing readers to additional resources from the National Cyber Security Centre for comprehensive cybersecurity guidance across different organization types and sectors.
