Our MD, Baldev Bhinder, discuss the murky world of invoice financing fraud and how to stay ahead of it.
Bhinder said, "There are three common categories of fraud we see. First, you have fake invoices, either fabricated by colluding parties or using impersonation to appear legitimate. Second is duplicate invoicing, where the same transaction is broken into multiple invoices to extract more liquidity. And third is over- or under-invoicing to manipulate value, whether for tax evasion, capital flight, or other purposes."
Bhinder said, "There are three common categories of fraud we see. First, you have fake invoices, either fabricated by colluding parties or using impersonation to appear legitimate. Second is duplicate invoicing, where the same transaction is broken into multiple invoices to extract more liquidity. And third is over- or under-invoicing to manipulate value, whether for tax evasion, capital flight, or other purposes."