Fraudsters steal £9bn from Britain’s small businesses

Britain’s small businesses are losing more than £9bn a year to fraudsters who send false invoices, viruses posing as bills, or who pose as suppliers on the phone, it has emerged.

Of more than 1,000 small-to-medium sized businesses (SMEs) surveyed by invoice network Tungsten, almost half had received a suspicious invoice or been a victim of invoice fraud in the last 12 months.