Invoice fraud poses significant risks to businesses of all sizes. It involves deceitful tactics to manipulate the invoicing process for financial gain, leading to monetary and reputational damage. How invoice fraud works ? Invoice fraud typically involves the creation or manipulation of invoices to deceive an organization into making unwarranted payments. Fraudsters can operate both internally and externally, exploiting weaknesses in the company's financial controls. Common methods include: Fake invoices: Fraudsters create fake invoices for goods or services that were never delivered or rendered. Overcharging: Legitimate invoices are altered to reflect inflated amounts. Phishing and spoofing: Fraudsters pose as legitimate vendors or employees, sending fraudulent invoices via email. Double billing: Submitting the same invoice more than once to receive multiple payments. Impact of invoice fraud Financial loss: Direct monetary losses from fraudulent payments can be substantial. Reputa...