How to stop invoice fraud

Prevent fraud before leaving the office for your vacation

Summer is here, which means that it’s time for a well-deserved vacation for a lot of people. However, many companies find that the number of fake invoices rises during the summertime.

Avoid approving fake invoices

The Accounts Payable department is a prime target for invoice fraud. Criminals, who are looking to exploit your business, take advantage of AP departments with lower staff levels during the summer vacation months.

Fraudsters exploit the low staff levels in finance departments to slip fake invoices through for immediate payment. By having a good approval flow, the invoices are always accessible to the relevant people at the company.

By comparing the creditor's bank account number in the creditor directory with the information on the invoice, Continia Document Capture can quickly warn you of potential danger.

Invest in a solution with an approval flow and share your documents with an approval team

If you use a system with an approval flow and option for shared approval along with group sharing, such as Continia Document Capture, you can ensure sound internal approval procedures.

Secure your company against invoice fraud

The invoices are sent to both you and your temporary replacement, which you designated as a substitute for your tasks while you are away.

Sharing your documents with a group may be a particularly good idea during times with low staff levels since invoices will be checked by several different people.

With sharing activated, your colleagues can keep track of invoices that are approved and posted. This ensures transparency throughout the entire approval process.