‘INVOICE HIJACKING’ FRAUD A NEAR EPIDEMIC, SAYS LAWYER

On 5th April, an article from Out-Law said that fraud stemming from ‘invoice hijacking’ is at a near epidemic level, but businesses can rely on the courts to support their efforts to recover stolen funds if they act fast in light of incidents, experts in civil fraud and asset recovery have said.  It is also said that a recent case before the High Court in London provides proof of the support businesses can obtain from the courts where they have fallen victim to invoice hijacking.  Invoice hijacking is described as a term typically used to describe cases where a fraudster has been able to serve a false invoice on a business after positioning themselves in the middle of correspondence between the company and one of its suppliers.  This is often achieved through email hacking and observing patterns of behaviour and correspondence.

https://www.out-law.com/en/articles/2019/april/invoice-hijacking-fraud-epidemic/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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