Supplier invoice fraud is continuing to present a significant threat to businesses in the UK. UK Finance has reported that invoice fraud losses hit £50.3m in 2023 which represents an increase of 2% on the previous year.

Invoice fraud tends to arise in circumstances where either (i) a fraudster sets up an email address that is very similar to the actual supplier’s email address or (ii) the supplier’s genuine email address is hacked. In both circumstances, the fraudster will tend to change the payment details in the invoice so that the payment is sent to the fraudster’s bank account.

https://www.stephens-scown.co.uk/business-disputes/supplier-invoice-fraud-who-ends-up-paying-the-bill/