Invoice fraud occurs when company emails are intercepted and an email or invoice is received appearing to be from a supplier notifying of a bank account change (see description from Barclays).
Companies inadvertantly follow through with these emails and make a payment to the fraudster’s account. This type of fraud can be prevented by implementing a SILENTDATA Proof of ownership check, to receive first hand proof from the bank that the account details match the account holder name.
Proof of ownership
Bank account holder identity
Original Supplier Ltd.
•••• •••• •••• •••• 8123 20
03/03/21, 11:34:47 GMT
Make sure you pay into the correct valid bank account
I want to check if the account I am about to pay isn't a fraud.
Allan Parson, CFO
I'm concerned about invoice fraud.