As a CFO, you are responsible for safeguarding your company’s financial health and ensuring that all financial transactions are accurate, legitimate, and compliant with relevant regulations. However, fake invoices can be a significant challenge threatening your company’s financial stability and reputation. Fake invoices are fraudulent documents created and sent to businesses to deceive them into…
Invoice fraud has become a growing concern for businesses worldwide. With the alarming 75% increase in invoice and payment request fraud over the last three years, businesses are faced with significant financial losses. This rise in fraudulent activity serves as a reminder of how easily a business can become a target. The reality is that…
With cyber crime on the rise, businesses are increasingly facing a grave threat – invoice fraud. These scams, which cost US businesses more than $2 billion annually according to FBI estimates, involve malicious actors manipulating invoices for their own gain. This fraudulent activity not only hurts companies’ bottom line but can damage their reputations and…
There are many different types of invoices a business can send or receive for its clients. The type of invoice you choose or receive will depend on your industry, how you bill for your services, how often you plan to get paid, and/or the terms of the contract. Depending on the type of client and…
Businesses of all sizes are at risk for invoice fraud. This type of fraud occurs when someone posing as a legitimate vendor sends an invoice to a business for services or products that were not actually provided. The goal of the fraudster is to get the business to pay the invoice and release the funds,…
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