Firms lose $132m to invoice scams

29 June 2020

Australia’s competition watchdog is urging firms to be on the alert for scams where criminals impersonate a supplier business. 

The Australian Competition and Consumer Commission (ACCC) said in its report Targeting scams 2019 that businesses lost $132m to business email compromise scams, where scammers persuade them to pay a fake invoice, often belonging to a supposed supplier.

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