All digital brings bigger frauds

As businesses around the world have become mostly digital, fraudulent billing activities have as adjusted to the system as well. Companies today, whether a small business or a Fortune 500 Company, have become overly susceptible to digital invoice fraud - which can cost them tens of thousands to tens of millions in unwarranted losses.

While an organization's virtual data system can become compromised by hackers and other scammers, many criminal scams can include targeted phishing and billing fraud. Equipped with invoice copying programs and other convincing technologies, many of them have the ability to deceive companies, as well as in many cases the companies' customers, into paying false invoices. A commonly used strategy is to target companies or customers by posing as a third-party organization that handles payments and billing information or as an employed member of a company using relevant details and public information accessible online.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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