Fraudsters no longer need to physically enter businesses - they enter them quietly by email, using fake PDF invoices and convincing emails.
Artificial intelligence gives them ever more sophisticated tools to fool even the most vigilant employees. A particular vulnerability is the use of PDF invoices and emails for billing. And once money has been transferred, it is often impossible to recover it. Businesses of all sizes - even those with a strong IT team or experienced accountants - are targeted by fraudsters.
Why is PDF account fraud on the rise?
Most businesses still receive PDF invoices by email, which is the main channel for fraud. Fraudsters falsify invoices, change payment details or intercept email correspondence with a supplier.
What does this look like in practice?
- The fake account looks professional and is in line with the company's visual style and tone of voice.
- The sender's address looks reliable - often with a barely noticeable error, or even real.
- The letter may be a continuation of previous correspondence and therefore does not raise suspicions.
- The fake invoice is sent directly to the accountant. The money is transferred to the fraudsters' account, often abroad. Even if the fraud is reported an hour later, the bank does not always have time to stop the transfer.
A real example of fraud
In May 2025, an Estonian company transferred more than €1.7 million to fraudsters after receiving a convincing email claiming that a supplier had changed bank accounts.
How can businesses protect themselves?
Today, as fraud methods become more sophisticated, employee training alone is no longer enough. The most effective way to completely eliminate the risks associated with PDF invoices and emails is to switch to working with e-invoices.
Why e-invoices?
E. account - This is the most secure invoice format. It is transmitted over an encrypted, secure channel directly from the supplier's application to the recipient's application, for example from Banqup to Banqup or to an accounting system.
E. account means:
- No PDF files that can be tampered with.
- No risky email correspondence.
- Reduces the likelihood of human error.
- Automated processes.
What to do next?
Using Banqup?
Ask your suppliers to submit only e-invoices to your company's Banqup account. Not only will this protect you from fraudsters, but it will also help you avoid manual data entry and related errors.
Not yet a registered e-invoice recipient?
Contact us - we'll help you get started quickly with e-invoicing: pagalba@banqup.lt.
Not using Banqup yet?
Click HERE, create an account and start using it. You can try the Banqup Premium Plan for free for the first 3 months.
Banqup gives you the opportunity to:
- Create, send and receive various invoice formats.
- Use the most secure format for accounts (XML).
- Digitise receipts.
