The Hidden Cost of Fake Invoices: $127,000 Lost Per Incident (opens in new tab)

Originally published at htpbe.tech. The version on htpbe.tech stays in sync with the latest detection algorithm — refer to it for the canonical text. Every week, finance teams around the world approve wire transfers that never reach the intended vendor. The money is gone within hours, usually unrecoverable, and in many cases the fraud is not discovered until the real vendor follows up asking why payment is late. By then, the funds have passed through several accounts and are effectively unrec...