Businesses suffered an average loss of €14,000 as a result of invoice fraud but in some cases individual companies lost up to €50,000.
"FraudSMART members have seen text message scams almost double in the first half of this year compared to the same period last year," Niamh Davenport, Head of Financial BPFI and FraudSMART lead said. There have also recently been reported incidents of late of fake correspondence supposedly coming from an employer's HR department.
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