Invoice fraud is rapidly becoming one of the most damaging threats facing UK businesses. Criminals are becoming more sophisticated, more convincing, and more persistent — and even well‑established companies with strong internal controls are being targeted.
If your business pays suppliers, manages invoices, or handles bank detail changes, this is a risk you cannot afford to ignore. Please take a moment to read this and share it with anyone in your organisation who authorises or processes payments.
What Is Invoice Fraud?
Invoice fraud happens when criminals impersonate genuine suppliers or intercept legitimate communications to trick businesses into sending payments to fraudulent bank accounts.
These scams often involve:
- Posing as a supplier you already trust
- Sending emails that look almost identical to genuine correspondence
- Altering payment details on invoices
- Manipulating staff into updating bank details without verification
Once the payment is made, the funds are usually moved instantly — making recovery extremely difficult.
Common Tactics Used by Fraudsters
Criminals are using increasingly convincing methods. You may encounter fraud attempts where someone:
- Requests new supplier bank details or asks you to amend existing ones
- Sends emails that appear genuine but contain subtle changes in the address
- Issues invoices that look authentic but include altered payment information
- Asks for a small “test payment” before requesting the full amount
These tactics are designed to bypass your usual checks by appearing routine or urgent.
How to Protect Your Business
Protecting your organisation doesn’t require complex systems — just consistent, disciplined processes. Here are key steps every business should follow:
- Independently verify any change to supplier bank details using a trusted contact you already hold, not the details provided in the request
- Treat urgent or unexpected payment requests with caution, especially if they fall outside normal procedures
- Check invoices carefully against previous genuine invoices and internal records
- Inspect sender email addresses for unusual characters, numbers, or misspellings
These simple checks can prevent significant financial loss.
Stay Vigilant
Fraudsters adapt quickly. One click on a malicious link, one unexpected phone call, or one unverified change to a payee can expose your business to serious financial harm.
Encourage your team to slow down, question unusual requests, and follow verification procedures every time — no exceptions.
If in Doubt, Reach Out
If you’re unsure about a payment request or you receive a suspicious call, always use trusted channels to confirm:
- Contact the Fraud Team at your bank
- Speak to your Relationship Manager or Relationship Team
- Visit Report Fraud for more information
Never use contact details provided in a suspicious email or invoice.