Fraudsters targeting invoice processes and financial transactions is nothing new - but the methods being deployed are increasingly sophisticated and difficult to detect.
Globally, losses to this type of fraud have now passed $12.5bn. Losses in the UK more than doubled in 2018 - and with the typical loss being over £20,000 it's a significant threat to firms of all sizes.
It's a fraud perpetrated by organised crime gangs using increasingly clever tactics that bypass traditional cyber security.
The Cyber Loss Prevention Forum will discuss:
- Why losses to this scam have grown so quickly
- The anatomy of an invoice hijack scam
- Why invoice hijack is able to bypass cyber security and traditional process checks
- The elements of an effective loss prevention strategy in invoice hijack
- Executing an effective, balanced approach to countering current and emerging threats