SMEs targeted by invoice scammers

Scams targeting small businesses have increased over the last six months, according to Action Fraud…

There were 749 reports of fake invoice scams in the first half of this year, compared to 603 in the whole of 2014.

Action Fraud said it fears the total number may be higher with many crimes going unreported.

Simon Dukes, Chief Executive of fraud prevention service Cifas, said: “Fraudsters often take advantage of organisations with less resources and less staff leaving small businesses more vulnerable to fraud.” 

“We know greater awareness is a powerful tool in fraud prevention and we urge small businesses to stay alert and to ensure their employees are aware of invoice fraud too.”

To fraudulently obtain money using a fake invoice scam fraudsters contact a business and say the account details on an invoice need to be changed, before giving their own bank details.

Pauline Smith, Head of Action Fraud, said: “It is important that employees are made aware of invoice scams and are ready to recognise the signs of fraud.” 

“Incidents of invoice fraud are underreported and therefore it is difficult to know the true scale of this fraud type, however what we do know is that this type of fraud prevails across all types of business and no one type of industry is immune.”

“Those organisations that are worried they may fallen victim to fraudsters should always report to Action Fraud.”

Action Fraud is the UK’s national reporting centre for fraud and internet crime and is run by the City of London Police.

 

For Action Fraud’s tips on protecting your business against invoice scams, click here.