Police launch construction invoice fraud campaign | Construction Enquirer News

The drive is  aimed at accounts payable professionals and finance personnel in the industry. The agency warned construction is especially vulnerable to invoice fraud because it relies on complex supply chains, frequent high value payments and reliance on emails to communicate payment instructions which criminals can compromise. Invoice fraud happens when criminals deceive individuals and businesses into paying fake invoices or diverting a genuine payment into accounts controlled by fraudsters. Fraudsters can impersonate suppliers, intercept emails or send convincing invoices to generate immediate payments into their own accounts. The aim is to manipulate victims into transferring funds to the fraudsters instead of their legitimate destination. The campaign provides individuals and businesses with practical guidance on identifying and preventing this fraud including: CHECK for any changes to invoice details, bank details or if you are being pressed for an urgent payment. VERIFY by calling the genuine supplier on a previously used phone number before you transfer money, as emails can be intercepted or diverted. NEVER transfer money until you are satisfied the details are correct. Nick Sharp, Deputy Director of Fraud at the National Economic Crime Centre (NECC) in the NCA, said: “Invoice fraud is one of the highest harm types of fraud experienced by victims and it has a huge impact on those who become a victim. “Businesses can be destroyed by a loss of cashflow from a fraudul...