Making the switch from manual paper invoicing to an automated electronic process can cut costs, increase
efficiencies and improve customer relationships. But with cases of Internet fraud making headline news, the
benefits of moving to an electronic transaction system are often overshadowed by the potential devastating
consequences caused by a security attack.

As a company you have probably already received an invoice electronically. If you received it by email, how did
you verify who it came from? How do you know that the contents were not changed during transmission?
How did you ensure that the invoice was delivered to the correct person in your organisation?
Phishing is just one potential threat. In this case, fraudulent emails are sent out that appear to be from a
legitimate source. The aim of the email is to lure unsuspecting users into surrendering private information such
as passwords and credit card details. How would you feel if an organisation claiming to be you sent out
thousands of company-branded e-invoices to random email addresses worldwide? The disruption to
businesses and the effect it would have on your company reputation could be catastrophic.

Tampering is another example. This is where electronic documents are intercepted and its contents changed.
There have been reports of company e-invoices being intercepted and the amounts changed to dupe unwitting
customers into paying out huge sums of money for services or products they never received.

Sending documents electronically without taking the proper security precautions is the electronic equivalent of
sending your invoice on a postcard. For example, if you currently attach your financial documents and send
them by email then you are leaving yourself open to a potential security breach. Due to the way an email is
sent there is no guarantee that it will be delivered successfully or even to the correct person. Also email
attachments have questionable legal status and can be easily accessed with no indication that they have been
opened or tampered with.