Fraud Prevention in Factoring and Invoice Finance

Fraud is a major issue for the factoring and invoice financing sector, with every portfolio of clients, probably, having an element of fraud occurring in one form or another

In the same way as we need to protect ourselves from computer viruses, every lender needs to have the equivalent of a fraud “firewall” to protect their business from losses caused by fraud.

For information around types of fraud see Fraud in Factoring / Invoice Finance »

There is not one “magic bullet”, but several measures and strategies that must be deployed to create defensive layers. In the same way as cyber-crime, often the weakest link is human beings: gullibility, lack of process, sloppy adherence to rules, not following best practice and optimism over reality!

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