Fighting Invoice Fraud: Lessons from the Intellectual Property Office
Article, Smart Payments – January 2019
Investigation / Cyber Consulting
The Intellectual Property Office was recently hit with ‘passing off’ invoice fraud, a fraud that’s hard to prevent. Here are some lessons learned as discussed in Smart Payments.
Invoice fraud is a malicious, shape-shifting menace that cost organisations a staggering £9 million in damages in the first six months of 2018 alone.
What makes invoice fraud a particularly challenging threat is the fact that it comes in a variety of shapes and sizes, making it very difficult to spot and even harder to prevent. One of those most problematic forms is “passing off” fraud – making a misrepresentation by use of distinguishing sign or mark.