Posted by Aston Avery

Businesses warned as fraudsters netting more cash from scams

Businesses are being urged to stay vigilant when paying their bills or changing suppliers as new data from Barclays reveals the amount lost to invoice scams is increasing.

Invoice scams – when fraudsters send bogus invoices often purporting to be from a familiar supplier – accounted for 55 per cent of all money lost by SMEs to swindlers in the last three months, with an average loss of £2,100.

The figure represents a six per cent increase in money earned by scammers from invoice scams year-on-year.

Aston spoke to Joe Cooksey, head of business digital safety at Barclays and founder of Mob Kitchen Ben Lebus.

Photo by Colin Watts on Unsplash

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