Invoice Fraud

Invoice fraud is when fake invoices are sent to targeted businesses in an attempt to extract money from companies with vulnerabilities in their accounts payable processes.

Source: blog.procurify.com

Mark Cuban Among Professionals Who Have Faced AP Fraud
Mark Cuban Among Professionals Who Have Faced AP Fraud
February 10, 2020  |  B2B Payments

From payroll to accounts payable (AP), B2B payments fraud continues to threaten organizations of all sizes, industries and geographies. Get the Full Story Complete the...

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The B2B Payments Fraud Threat Of Internal Employees
The B2B Payments Fraud Threat Of Internal Employees
January 13, 2020  |  B2B Payments

It was a difficult week for businesses getting hit with cyberattacks, with foreign currency company Travelex among the most high-profile of recent cases. The currency...

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Law Enforcement Cracks Down On Corporate Payments Fraud
Law Enforcement Cracks Down On Corporate Payments Fraud
December 23, 2019  |  B2B Payments

Payments messaging technology provider SWIFT recently opened up its Know Your Customer (KYC) platform, the KYC Registry, directly to corporates. The initiative enables 2,000 corporate...

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FinServ Providers Lift Some Of B2B’s Fraud Burden
FinServ Providers Lift Some Of B2B’s Fraud Burden
December 02, 2019  |  B2B Payments

As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are...

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Blank Checks And PO Manipulation Cost Businesses Millions
Blank Checks And PO Manipulation Cost Businesses Millions
November 04, 2019  |  B2B Payments

This week, three new cases of accused internal fraud emerged, showcasing the variety of ways employees can steal company cash. Invoice and purchase order manipulation,...

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Some Fraudsters Go Low-Tech To Grab Credit Card, Personal Data
Some Fraudsters Go Low-Tech To Grab Credit Card, Personal Data
September 23, 2019  |  B2B Payments

Paper checks, photocopies.  Fraudulent companies.  Banks and other firms may think payments fraud is all about BEC, but low-tech also has its place in the...

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Toyota Unit Loses $37M To Vendor Payment Fraud
Toyota Unit Loses $37M To Vendor Payment Fraud
September 10, 2019  |  B2B Payments

A subsidiary of automaker Toyota has lost millions of dollars thanks to a vendor payment scam, according to SC Media UK reports. The publication said...

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Ex-Sabre Exec Pleads Guilty In Invoice Fraud Case
Ex-Sabre Exec Pleads Guilty In Invoice Fraud Case
July 05, 2019  |  B2B Payments

A former executive at corporate travel technology firm Sabre Airline Solutions has reportedly reached a plea deal with prosecutors following allegations of invoice and wire...

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How False-Positives Complicate The B2B Payments Fraud Fight
How False-Positives Complicate The B2B Payments Fraud Fight
June 20, 2019  |  B2B Payments

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. Between data breaches exposing customer details and card information and the...

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