Invoice scams

The trickster notifies the firm that the supplier payment details are different, and you need to send payment to an alternative account. Then, the scammers generate a fake invoice to get funds into their account or prompt the victim to enter their bank account credentials into a bogus login screen.

How Does It Happen?

The scammer researches the target, spoofs their email address, and then crafts a message to create urgency. Then, the target clicks on the links related to the invoice message and enters their credentials in the form.

They sometimes know the relationship between the suppliers and the company, and they also know the mode of payments or transaction details. Such crimes can be discovered when the legitimate suppliers conduct a follow up for the pending bills.

How To Protect Yourself?

• Always check the details of amended bills related to payment instructions. Tricksters may imitate the email address to appear genuine, so check the address carefully.

• If the request has been made on the phone, you should call back on the trusted numbers to confirm the changes.

• Carefully check all the submitted invoices and compare them with the previously submitted ones to know the genuine details. 

• Compare the wordings used in the letters, and see if the letter uses the legal terms.

• Conduct audits and searches for crucial information. Remain vigilant and adhere to various processes. 

• If you suspect any fraud, report to the other regulatory agencies.