The invoice you just received looks official. The sender says you need to “act urgently” in order to avoid paying any late fees. While the invoice may be legitimate, there’s also the possibility that it has been sent by a scammer trying to get some of your hard-earned money. These fraudsters will send an invoice for products never ordered that may not even exist.
Consumers have reported more than 560 fake invoice scam attempts to Better Business Bureau ScamTracker just this year. Consumers lost money in 21% of these cases, with losses as large as $18,000 reported.
Scammers may also try to infiltrate businesses with emails attaching fake invoices that contain malware or spyware, which can expose the business to even more problems if downloaded.
It’s imperative that people check to make sure an invoice is real before making payment. This scam is successful when employees don’t communicate and make a payment believing someone else in the company placed the order.
How can you protect your business from fake invoice scams? Train your staff. Make sure people processing invoices or answering phone calls are aware of this con. Scammers are great at mimicking official seals, fonts, and other details. Create a process for inspecting invoices. Always check that goods or services were both ordered and delivered before paying an invoice. Designate a small group of employees with authority to approve purchases, receive shipments, and pay the bills.
If you’ve been scammed, immediately report it to company officials and local law enforcement. Finally, watch where you click. Be wary of unsolicited emails which may contain attachments, and before downloading anything, make sure the email is from a legitimate source.
Consumers are urged to report invoice scam attempts to the U.S. Postal Inspection Service, the Federal Trade Commission, and BBB ScamTracker.
