Campaign warns of risk of invoice fraud to schools

Invoice Fraud is a crime that costs schools millions each year and is one of the most common and costly forms of financial crime.

The NCA is warning that the education sector is at high risk of invoice fraud because schools and Trusts regularly work with a wide range of suppliers and process frequent payments.

Day-to-day reliance on email for sending invoices and updating payment details, combined with shared or distributed finance responsibilities, can make it harder to spot fraudulent requests.

Criminals take advantage of these normal business processes by posing as trusted suppliers and attempting to redirect payments.

Invoice Fraud occurs when criminals deceive individuals and businesses into paying fake invoices or diverting a genuine payment into accounts controlled by fraudsters.

Fraudsters can impersonate suppliers, intercept emails or send convincing invoices to generate immediate payments into their own accounts.

The aim is to manipulate victims into transferring funds to the fraudsters instead of their legitimate destination.

Education is one of the top 3 sectors impacted by invoice fraud in the UK (source: Report Fraud).

This campaign provides individuals and organisations with practical guidance on identifying and preventing this fraud, including:

The NCA and DfE have developed an information sheet on Invoice Fraud, attached.