What is invoice fraud? How fake bank details steal business payments
By SendPay Business · · 2 min read
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Invoice fraud, also called mandate fraud or invoice redirection, is when a criminal convinces a business to pay a real bill into the wrong account. Often they have broken into a supplier's email, so the message looks completely genuine.
How it usually happens
- A criminal gets into a supplier's email, or sets up a lookalike address.
- They watch for an upcoming invoice.
- They send a message saying the bank details have changed.
- The customer pays the new account, and the money is quickly moved on.
Simple checks that stop it
Always confirm a change of bank details by phoning the supplier on a number you already have, never one in the email. Send a small test payment first for new details, and use Confirmation of Payee where your bank offers it, which checks the account name matches.
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Getting paid safely yourself
If you send invoices, tell customers your bank details will never change by email alone. Payment links let customers pay you directly from the invoice, so there are no bank details for anyone to swap.
Where SendPay fits
SendPay platforms include invoicing and payment links, so your customers can pay you and their own customers without typing in bank details. Everything runs through licensed partners.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
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It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
Can I launch my own payments platform?
Yes, with invoicing and payment links built in.
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Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.