Is e-invoicing via Peppol secure?

Invoice fraud in the digital era

Invoice fraud is certainly not a new phenomenon. Indeed, anyone with malicious intent can send out fake paper invoices. Or they can intercept existing paper invoices and change the account number so that they will receive the payment. A more recent version of this is quishing, which involves overlaying or altering the payment QR code.

There is a similar practice in the digital world: fraudsters may send you fake PDF invoices or modify existing PDF invoices. Email, WhatsApp and text messages are the favourite hunting grounds for fraudsters. You should always be careful with attachments sent in this way.

Why e-invoicing via Peppol is secure

Improved security is one of the reasons the Peppol network was created. Peppol has various ways of ensuring the security of your invoices:

• Businesses send e-invoices via a secure network of certified Access Points. Recognition as an Access Point by OpenPeppol is subject to very strict procedures.
• Only verified users can participate: each business must provide identification before being registered on the Peppol network.
• Documents are protected with end-to-end encryption and cannot be easily intercepted or altered.
• Each step can be traced: recipients can always check where their invoices (and other documents) have come from.

Convenient: Billit enables you check whether your suppliers and clients are already connected to the Peppol network.

How to keep your account secure

Even if you use Peppol, cyber security is still something to be mindful of. Users also bear responsibility for protecting their data appropriately and being alert to potential fraud risks.

Therefore, you should always use strong passwords and enable multi-factor authentication (MFA). This will help you prevent unauthorised persons from accessing your account.

It is also essential to keep your software up to date. Billit makes this easy as our software runs in the cloud, so you always have the latest version.

Finally, being fraud-aware is also about attitude: never share everything on social media or during calls and don’t leave documents with sensitive information lying around.

If you still suspect that someone else has access to your Billit account,do not hesitate to contact us immediately.

What about invoices for private individuals?

We have already mentioned that Peppol is a secure and reliable way to exchange invoices, but this network is only used for transactions between businesses and between businesses and public authorities. So you should be extra vigilant when you receive invoices as a private individual, whether on paper or as a PDF. Always carefully check the amounts, the date and the services, and preferably pay via your supplier’s secure customer zone, not via links in emails.

Especially when it comes to large sums of money, it is a good idea to double-check the account number. Thanks to the IBAN name check in your banking app, this is now very easy.

If you have doubts, you can look for the correct account number on your supplier’s official website or request confirmation through another channel, such as over the phone.

You can find more information about avoiding invoice fraud on the FPS Economy website.

Cyber security is a shared responsibility

It is clear that invoicing will become much more secure once all your professional customers and suppliers have switched to Peppol. Billit is doing everything to ensure that transactions are secure and to prevent cyber fraud as much as possible.

Also read: Our focus on Compliance & Trust

As a user, you also have a responsibility to be vigilant and to handle sensitive data with care.

Are you still issuing paper or PDF invoices? Switch to e-invoicing via Peppol today and reduce your risk of fraud significantly.