Small firms warned of surge in invoice fraud – with one Norfolk-based manufacturer scammed out of £350k

Small businesses have been warned to stay vigilant after a surge in invoice fraud in which conmen try to dupe firms into handing over hundreds of thousands of pounds.

Financial Fraud Action UK has reported a rise in the scam with hundreds falling victim in the last year. The fraudsters send in fake requests for payment which look legitimate, often via e-mail or letter, with new payment details.

Because the fraud is not always detected immediately, stolen funds are often quickly transferred outside of Britain making it nearly impossible to get the money back. In a shocking example of the scam, the FFA UK has highlighted the recent case of a manufacturer based in Norfolk.

Read more: http://www.thisismoney.co.uk/money/smallbusiness/article-2804377/Small-firms-warned-surge-invoice-fraud-one-Norfolk-based-manufacturer-scammed-350k-never-again.html#ixzz3H3QBzGHt