<p style=”text-align: justify;”>Invoice fraud has become more prevalent in organizations of all sizes. According to The European Union’s law enforcement agency, <a href=”https://www.europol.europa.eu/newsroom/news/how-criminals-profit-covid-19-pandemic” target=”_blank” rel=”noopener”>Europol</a>, the Covid-19 pandemic has increased the risk of invoice fraud as more businesses move online and accounts payable staff work in isolation from home.</p>
<p style=”text-align: justify;”>Even prior to the pandemic, an increasing number of organizations were suffering at the hands of invoice fraud, with the Association for Financial Professionals reporting that as many as <a href=”https://www.afponline.org/publications-data-tools/reports/survey-research-economic-data/Details/payments-fraud-2019″ target=”_blank” rel=”noopener”>81% of firms were targets of payment fraud in 2019</a>.</p>
<p style=”text-align: justify;”>The ways in which invoice fraud is committed are changing all the time and for organizations still operating under manual processes, their susceptibility to invoice fraud is also increasing.</p>
<p style=”text-align: justify;”>In our latest blog, we discuss some of the most common types of invoice fraud that are being committed and outline a set of tips for both detecting and preventing invoice fraud within your organization.</p>
<p style=”text-align: justify;”>Read the blog <a href=”https://softco.com/blog/invoice-fraud-detection-and-prevention/” target=”_blank” rel=”noopener”>here</a>.</p>