How can you protect yourself from fraudulent schemes related to invoices? It’s important to pay attention to certain indicators. Here are 5 key signs that may indicate possible fraud:
- Unusual Increase in Payments
If you notice that the amounts paid to a particular supplier have increased significantly while the prices of goods or services remain the same, this could be a red flag. - Large Payments to One Supplier
Fraudsters may redirect funds to fake accounts. In some cases, they might collaborate with real suppliers, receiving “kickbacks” for their involvement in the scheme. - Duplicate Invoices
Receiving multiple invoices for the same goods or services may indicate fraud. Criminals might submit duplicate invoices to obtain extra funds. - Strange Payment Amounts
If payment amounts appear unusual or fluctuate without explanation, this could be a sign of fraudulent activity. - Sudden Spike in Payments
If you notice a sharp increase in payments, especially during busy periods, this may indicate an attempt to process unauthorized payments.
In addition to being aware of potential protective measures, you can use specialized tools to identify errors and anomalies in payment documents, such as our product InvoicePatrol. You can see our solution at the link ip.epol-it.com.
You can test the solution and evaluate how it can benefit your company starting today. Contact us at [email protected].
Source EPOL IT
