Finance teams

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.