Focus on fraud – What is Supplier Mandate/Invoice fraud and how to prevent it?
Supplier mandate fraud involves an attempt to impersonate a known supplier and divert legitimate payments into a fraudster’s bank account. Figures for 2018 released by UK Finance show there were 3,280 cases of supplier mandate fraud in the UK resulting in a loss of £92.7 million by UK businesses. Supplier fraud is not just a …
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