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Effective Ways to Avoid the Threat of Invoice Hijacking

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Invoice hijacking is a form of invoice fraud where a scammer will send a fake or doctored invoice to a supplier’s client with the aim of having the payment made to them instead. These scams can look incredibly convincing and result in over $12.5 billion in losses around the world annually. That’s a lot of people getting taken in and losing a huge amount of money.

Let’s take a closer look at this type of fraud and how you can avoid invoice hijacking.

The Most Common Types of Invoice Fraud

A fraudulent invoice is designed to look like an authentic invoice and it aims to ensure that the recipient doesn’t realize that it’s altered—or isn’t meant to exist in the first place. However, there are many ways that a scam artist can go about doing this.

The two most common methods of fraud are:

A Change of Bank Details

This is quite a simple scam. The scam artist sends an email to a stolen database to let those clients know that banking details have been changed and all invoices that are outstanding should be paid into the new account.

With this method of invoice fraud, the scam artist doesn’t even need to have access to the original invoice. All they need is access to the supplier’s list of clients either by hacking their email server or by watching the deliveries they make.

Fake New Suppliers

This one is less invoice hacking and more simply invoice copying. The scam artist creates fake invoices that look like they come from a supplier that the company or individual uses, but is for a service or product that was never bought.

The scam artist then usually puts pressure on the recipient in the form of threatening legal action because the payment is overdue. The idea is that the recipient panics, thinking they’ve somehow missed the invoice, and pays it without asking too many questions.

How to Combat Invoice Hijacking

While it’s almost inevitable that someone will try to hijack your business invoices or send you a fraudulent invoice at some point, there are plenty of ways to mitigate potential problems. It’s all about being alert and putting the right types of communication in place.

1. Always Rely on Human Interaction

Human interaction is your best line of defense against invoice hijacking. If you’re a supplier and you regularly send out invoices, make sure that you keep good lines of communication open with your customers.

On the other hand, if you get invoices sent to you from suppliers, make sure that you double-check with them if anything seems different or odd. A quick phone call to confirm that your supplier has changed their banking details will save everyone a lot of headaches.

If you’re worried about a scam you can verify the information by using contact information not supplied in the email that accompanied the invoice. If you click on the link to the website or call the telephone number in the email you received with the potentially fraudulent invoice, you’ll likely get directed somewhere that the scam artist can control. Rather, refer to a past email and use those contact details instead.

2. Focus on Email Security

This goes for suppliers and clients. Scam artists can hack into an email server and monitor the comings and goings of invoices, making it far easier for them to hijack those invoices and commit fraud. They can also then make the email sending the invoice look completely legitimate when they can access the supplier’s email server.

The best way to combat this is to set up two-factor, or even multi-factor authentication, on all email accounts in your business.

3. Look after New and Once-Off Purchases

The easiest place for a scam artist to commit invoice fraud is in a once-off transaction or with a brand new interaction between a supplier and client. This is because the client is very unlikely to spot a change in banking details or an email address and contact details that might be incorrect. The client will also be loading banking details or making an online credit card payment to an entirely new supplier—whether it’s the correct supplier or the fraudulent one.

It’s so important when paying a new supplier or a once-off client to double-check that the payment details are correct. On the client side, if there is any doubt, take the time to call the supplier using contact details you know to be correct.

4. Automate Your Invoice Management

On the supplier side, this is a great way to prevent invoice hijacking for suppliers. Numerous accounting software programs allow you to generate and send accurate invoices directly from your accounting system to your clients. This eliminates manual processing and reduces the opportunities for scam artists to sneak in and commit fraud. Using the same invoice template also sets a precedent with clients who then know exactly what your billing documentation looks like and are more likely to spot any changes.

There are also plenty of ways that artificial intelligence (AI) or a smart authentication protocol (AP) can be deployed to help combat invoice fraud for suppliers and clients. On the one hand, if you have several suppliers that you receive invoices from regularly, you can use AI to monitor your incoming invoices and look for discrepancies against details you’ve verified. The system will flag any issues before payments can be made.

Using an AP can do something similar and actively filter invoices sent and received, as well as payments made and received. Those with anything suspicious or different about them will be sent to the appropriate people to check the invoice and approve it if all seems right to them. You then have a record of who approved invoices and payments.

Final Thoughts

Invoice hijacking is an ongoing problem and it’s even been described as an epidemic. But if you know what to look for, you have the best chance of preventing it. The more awareness around the topic, the less chance scam artists have of forging or faking invoices and laying claim to funds they didn’t earn in the first place.

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Business

How to Pick the Best Conference Camera for Professional Use?

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Conference cameras are essential for any business that needs to present its activities to customers. The best ptz camera can be used in various situations, and it can assist you in improving your efficiency.

For example, if you have just started a new company, you must take advantage of all available opportunities. One such opportunity is using a conference camera. A professional conference camera will help your business grow even more by allowing you to showcase your work at different events and meetings. For you to select the best ptz camera for live streaming, there are some things that you need to consider first. Let’s look at them now: 

Determine your meeting room size

The first thing you need to do when you’re out in the market to buy a ptz conference camera is to determine the size of your meeting room. This will help you decide which camera is best for your needs. The size of your meeting room will determine how many people can use each camera at once. If it’s tiny and only a few people are in attendance, then maybe just one ptz analog camera would work fine.

The larger the room, the more people you can fit in with and get a better video quality. However, suppose you use a video conferencing solution that features conference calling. In that case, it is recommended to use a more miniature camera so that everyone can see each other clearly on screen.

Set the number of participants

Once you know how many people can fit in your meeting space, establish a maximum number that can attend any specific event. This will ensure enough bandwidth for all users who want to participate in the conference call. You can also set an upper limit on how long each participant should stay online before they need to sign off again so that no one gets disconnected accidentally during a call session.

Consider the necessity of a camera with pan, tilt, and zoom capabilities.

A camera with pan, tilt, and zoom capabilities is a must-have for a practical conference room experience. You will use it to take notes on the whiteboard, share important information with your team members, or show a presentation during a meeting. In addition, conference attendees can use the camera to see their surroundings. This is particularly important for those who are speaking at conferences or seminars.

How about an Auto Tracking Camera?

Auto tracking is ideal if you have a dedicated line of sight and don’t need to complete manual control over your camera’s movement or zoom level. You can set up the auto-tracking camera to track motion in specific areas of the room or even around the entire room without any user intervention.

However, if you have multiple participants in your meeting or conference, you may need a tracking system that keeps track of everyone’s position.

You can also use the auto-tracking feature in combination with an Auto Tracking Camera to create an entirely new way of working by incorporating movement into your meetings. This can be particularly useful if you want to show that there’s someone else present in your meeting room but don’t want them interfering with the conversation or distracting others from what they’re doing – point out where they are on-screen. They’ll be able to see themselves!

How will you utilize the camera with a video conferencing solution?

You can use the video conferencing solution to stream footage from your conference room on-screen for everyone to see. This way, everyone can see what is happening in real-time during the meeting or conference.

One thing that people often overlook when thinking about video conferencing is how they will use it. If you are trying to decide between Skype and Google Hangouts, for example, then Skype will be easier for most people because they already have their own accounts set up.

Wrapping up

You may have noticed that some of the more expensive conference cameras have more features than others. If you’re looking for one that has all these features and more, then you’re going to want to look at investing in one of these higher-end models. On the other hand, if you want to ensure that everyone at your meeting or conference has access to good quality video footage, consider investing in a camera with pan, tilt, and zoom capabilities. If you are unsure which option is best, let us know in the comment section. We’re happy to help!

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Finance

Things You Should Know about Dogecoin Gambling

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With the development of the gambling industry, casinos began to offer players a long list of payment methods. In addition to the usual payment cards, users pay using Internet services, electronic wallets, and money from the balance of a mobile phone. Crypto wallet holders replenish their game accounts and withdraw winnings in digital currency, including Dogecoin.

DOGE Features

Dogecoin was created in December 2013 as a satirical coin in response to some of the altcoins that were entering the cryptocurrency market at the time. The creators of Dogecoin named the coin after the famous Shiba Inu dog meme Doge, which was circulating around the world at the time. Despite its humorous nature, Dogecoin was created based on serious technology, as it is a fork of Litecoin, which is based on the Bitcoin source code. What makes Dogecoin gambling valuable:

  • It is faster and has lower transaction fees than Bitcoin and Litecoin.
  • It has a high trading volume.
  • Due to its ease of use, it is considered the gateway for newcomers to cryptocurrency gambling.
  • Thanks to the infinite supply, the price remains relatively stable, which reduces transaction fees.
  • It is used in many online forums such as Reddit and Twitter to give commissions to content creators and send micropayments to recipients.

Dogecoin Casino Features

Gambling organizers that accept DOGE differ in the number of deposit methods available. Top companies provide a wide range of payment methods and are marked by generous bonus programs. As a rule, promotional funds are provided for registration and making a deposit. DOGE casinos without investments with a no deposit bonus are very popular among players. The gift is provided for the complete completion of the profile, the provision of up-to-date contact information, and verification on the site. Gift money must be won back — make a specific number of bets in games.

What Are the Advantages of Using DOGE in an Online Casino?

There are many reasons why gambling clubs are massively switching to crypto, and players are abandoning more traditional payment methods in favor of digital currency. The most significant of them:

  • No commission and transaction fees. The circulation of digital currency takes place in decentralized networks. Accordingly, there is no single institution or institution that would benefit from fees, commissions, and payments. The only fee that is charged to users is the miner’s commission for the transaction.
  • Transaction speed. A payment using crypto coins is processed much faster than transfers through traditional financial institutions. In most cases, it takes no more than a few minutes to verify and make a payment.
  • Safety. Thanks to the use of blockchain technology, a digital currency transaction cannot be canceled or rejected. Therefore, crypto transactions are safe and leave no room for fraudulent activities.
  • Anonymity, complete confidentiality of players. To replenish an account or withdraw winnings using digital currency, you do not need to provide personal data. All you need is a bitcoin wallet address and keys. The identity of the gambler remains anonymous. Thanks to this, even players from those countries where gambling is prohibited can freely play online casinos and withdraw the money they earn.

How to Deposit and Withdraw Dogecoin from the Casino?

Registered online casino customers verify payment methods. To do this, you need to link a crypto wallet to your account. In the personal account in the payments section, the details of the digital account are entered, and the amount is indicated. After moving on, the contact means of communication of the holder receive a proposal to confirm the payment. This could be a one-time password, an offer to digitally sign, or use an eToken. By linking a payment method once, gamblers do not waste time entering data all the time.

The financial department of the casino withdraws winnings in Dogecoin instantly, processing requests within a few minutes. Customers do not have to wait for hours or days, as is the case with bank cards. In addition, there are no digital money withdrawal limits. Having hit the jackpot, the lucky ones will withdraw the cryptocurrency quickly and in one payment.

Dogecoin started as a fun project, but it’s certainly no joke when it comes to becoming a beloved and commonly used cryptocurrency that has a rich history and is widely accepted by merchants and exchanges. With faster speeds and lower transaction fees than Bitcoin and Litecoin, Dogecoin has become one of the most efficient cryptocurrencies in the gambling industry.

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Business

Choosing the Right Location for Your Business

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There are many big decisions that you have to make when starting a business. Partners, suppliers, funding options and more will all have to be considered, discussed, and eventually committed to. But what about location? Where your business will be based is often the last thing to be thought about, or is something that is essentially left to chance.

Staying in the area where you already happen to be and renting the first available, barely suitable premises may enable you to get started as soon as possible, but it is rarely the best option. The location where your business is based is more important than you might think, and it is something worth prioritizing in the early stages of a startup — or reconsidering if you are hoping to grow an existing concern.

Whether you are talking about a bricks-and-mortar retail unit, office space, or a corporate headquarters, where you are is of paramount significance. Here are some of the factors you might want to consider when choosing a location for your business:

Investment

Certain parts of the world find favor with investors at different times. If your business is based in a region that is attracting investors, then you may find it easier to build seed capital.

Right now, many investors are looking at Latin and South America as a good place to buy stocks in business. Julio Herrera Velutini is a financial and banking specialist based in Puerto Rico who has advised many individuals and companies looking to invest in South America.

Regulations and tax

Many businesses choose to relocate to a different country because the situation regarding regulations and/or taxation is favorable for them. Sometimes, relevant regulations and tax rules can change from one city or state to another. Look carefully at what the current laws are, and how they relate to your business.

Weigh up the pros and cons — would your company benefit from less regulation, or would it put the firm at greater risk? Remember too, that political administrations can change, and new laws can be brought in that may dramatically alter the business landscape, for better or worse.

Perception

Where your business is based can play a big part in how it is perceived. Certain countries, cities and even districts can go in and out of fashion or seem right or wrong for a particular type of company. A solid industrial district may be right for an auto factory, but the address could count against an advertising agency trying to attract clients.

Choosing the right address may be more expensive in terms of rent, but it can soon pay for itself as part of a low-cost marketing strategy where you trade on your location to build your brand. Even if you do not care about being fashionable, businesses that hope to be players on the national or international stage need to be based in a major city to be taken seriously.

Employees

If you want to have the best and brightest working for you, then you need to go where the talent is. Once again, this generally means big cities, but you should select a metropolis where the people with the skills you need will choose to live. Your location might be near to a university that is known for turning out top-quality graduates in the subjects you need, or a place with a traditional labor pool in the kinds of crafts or manufacturing you work with.

Remember that as well as finding the best employees, you have to keep them. If they need to commute to a workplace that is far from pleasant housing districts, amenities, and entertainment, then they may not choose to stay long.

Customers

Depending on the nature of your business, you need to go where your customers or clients are. If your business is a retail shop or hospitality vendor, then choosing the right location is essential. You either want to be right in the central shopping district, or in a neighborhood where your potential customers are likely to go. Sometimes it makes sense to be close to other similar businesses, so that your potential customers are already around. However, sometimes it is better to avoid direct competition and instead fill a gap in another high street.

Cost

Prime real estate is not cheap, but you get what you pay for. Sometimes it is worth paying a bit more for a particular location, and sometimes it is not. Carefully consider the advantages of a given location and whether it is worth the additional overheads.

If having a fashionable address or being close to your customers does not matter to your business, and having plenty of physical space for a factory does, then it makes sense to go where real estate and labor is cheapest. In today’s global economy, many companies choose this option. Weigh up all the costs and savings to see what works best for you.

Location matters and where your business is based can define its future. Think about how your operations might differ in different places. The world is a big place — why not make the most of it?

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