Invoice fraud is becoming more sophisticated thanks to AI: how can you protect your financial records?

An invoice from a well-known supplier, featuring the correct logo, familiar contact details and a professionally written email. At first glance, everything seems to be in order. But what if the account number has been altered or the invoice has been completely forged?

With the rise of generative AI, it is becoming increasingly easy for fraudsters to create convincing fake invoices and messages. As a result, errors in language or formatting are becoming less and less reliable indicators. It is becoming more difficult for financial departments to spot fraud with the naked eye.

Fortunately, smart software can help. By not only automatically recognising invoices, but also checking them and comparing them with existing data, suspicious discrepancies become apparent more quickly.

Invoice recognition alone is not enough

With automated invoice processing, details such as supplier names, amounts, VAT, invoice numbers and account numbers are automatically extracted. This reduces manual work and speeds up processing. However, correctly recognising an invoice does not automatically mean that it is reliable. After all, even a forged invoice can be read perfectly.

That is why it is important to look beyond the document itself. Does the information match what is already known within your organisation? Has an order actually been placed? And does the account number match the supplier details on file? This is precisely where smart software makes all the difference.

Smart checks help identify suspicious invoices

Much of the information needed to check an invoice is already available in your financial records. This includes supplier details, previous invoices, purchase orders and journal entries. By automatically comparing this information, smart software helps to identify discrepancies more quickly. Consider, for example, the following checks:

Identifying duplicate invoices: checking whether the same invoice has already been received or processed.
Checking supplier details: verifying that the invoice details match those of the known supplier.
Comparing amounts: checking that the amounts on the invoice match those on the original order.
Flagging discrepancies: identifying missing or incorrect information before an invoice is processed further.

Of course, an anomaly does not automatically mean that fraud is involved. However, it is a reason to check the invoice more carefully.

Order matching: does the invoice match what you ordered?

One key way of identifying incorrect invoices is through automatic order matching. In order matching, the software compares the invoice received with the corresponding purchase order. Do the supplier, quantities, prices and amounts match? If so, the invoice can automatically proceed through the processing workflow. If the invoice differs from the original order, this is flagged and the invoice can be flagged for review.

Including information about goods or services received provides additional assurance. This allows you not only to check what a supplier is invoicing, but also to verify that this matches what was actually ordered and received. This reduces the risk of an incorrect or completely fabricated invoice being processed without being noticed.

Smart workflows ensure control at just the right moment

Not every invoice needs to be checked manually. In fact, the more invoices that can be processed automatically, the more time the finance team has to deal with exceptions. With smart workflows, you can determine which invoices can proceed automatically and when additional approval is required.

An invoice that passes all the set checks can automatically proceed to the next stage. If there is a discrepancy, it is forwarded to the relevant member of staff. You can also set up approval rules based on, for example, amounts, cost centres or areas of responsibility. This prevents invoices from being approved without the correct checks being carried out. The result? Less manual checking, whilst you retain control over the entire invoicing process.

E-invoicing offers additional opportunities for verification

The way in which invoices are received also plays a part. A PDF received by email can be forged relatively easily.

With structured e-invoicing, invoice data is exchanged directly between systems. Via a network such as Peppol, this is carried out through registered participants and using a standardised format. This makes it easier to validate and verify invoice data automatically.

E-invoicing does not prevent all forms of fraud. After all, a fraudulent invoice can also be sent via a structured network. That is why checks on suppliers, amounts and purchase orders remain important.

From automatic recognition to reliable processing

AI is making invoice fraud increasingly convincing. This calls for a different approach to verification. It is not just a matter of checking whether an invoice looks legitimate, but, above all, whether the information is actually correct.

With smart invoice processing, you don’t just automate the recognition and processing of invoices. You combine this with order matching, checks on invoice details and flexible approval workflows. This means discrepancies are spotted more quickly, you spend less time on manual checks and you maintain control over your financial administration.

Want to know more?

Get in touch with us!

The benefits

Reduced risk of invoice fraud
Fewer manual checks
Greater control over your invoicing process

Would you like to know how to make your invoice processing smarter and more reliable?

Find out how Whitevision helps you to automatically recognise, check and process invoices. That way, you’ll have more time for what really matters.

Back to overview

New Archives Act in 2027: What Will Change for Financial Administration and Procurement?

The new Archives Act is expected to take effect on January 1, 2027. This is a logical step, as documents are increasingly received and processed digitally. Examples include invoices sent via Peppol, contracts stored in a document management system, and approvals processed through digital workflows. The Archives Act primarily applies to government bodies, such as ministries, municipalities, and water boards. Other organizations may also be subject to the Act if they exercise public authority. It is therefore important for employees and managers in financial administration and procurement to take a critical look at the entire document workflow. Documents must not only be processed correctly, but also be reliable, legible, accessible, and easy to retrieve.

From AI Assistant to AI Agent: What Does Agentic AI Mean for Finance and Procurement?

AI has become an indispensable part of administrative processes. Documents are automatically recognized, data is extracted, and posting suggestions are becoming increasingly sophisticated. But the next development is already on the horizon: agentic AI. Whereas AI has primarily helped with performing individual tasks up to now, an AI agent can independently combine multiple steps within a process. Think of recognizing an invoice, verifying data, detecting discrepancies, and then determining what the next step should be. Translated with DeepL.com (free version) For finance and procurement, this means that automation is shifting away from mere recognition and increasingly focusing on verification, assessment, and action. And that is precisely what is becoming important now that generative AI is making it easier to mimic convincing documents, messages, and even identities.

ESG reporting is on the horizon: How your invoice flow is the key to sustainability data

For CFOs, ESG reporting is increasingly shifting from a future concern to a concrete responsibility. New laws and regulations require organizations to provide insight not only into their own performance, but also into that of their suppliers and supply chain partners. This includes CO2 emissions, the origin of goods, transportation movements, and sustainability policies within the supply chain. The challenge? Much of that information isn’t stored in separate ESG systems, but in everyday procurement documents such as invoices, order confirmations, and packing slips. That’s precisely why the quality of financial and administrative data is playing an increasingly important role.