Push payment fraud (also called authorised push payment fraud or invoice redirection fraud) occurs when criminals trick businesses into sending money to fraudulent accounts.
Push payment fraud is one of the fastest-growing threats facing businesses today. Criminals trick accounts payable teams into sending money to fraudulent bank accounts — often using fake invoices, spoofed emails, or doctored bank statements. The result can be catastrophic: lost funds, reputation damage, and regulatory exposure.
According to the UK Finance Annual Fraud Report 2024, Authorised Push Payment (APP) fraud losses in the UK amounted to £450.7 million in 2024. For businesses managing large supplier networks, the risk is clear: even one fraudulent payment can undo years of careful relationship-building and financial discipline.
Who Suffers When Push Payment Fraud Hits the Supply Chain?
Push payment fraud doesn’t just affect the buyer who sent the funds — it ripples across the entire supply chain:
- Buyers lose money, face operational disruption, and may be exposed to regulatory risk.
- Suppliers experience delayed payments, strained relationships, and added admin to prove their legitimacy.
- Finance and Procurement Teams are left firefighting — tracing payments, investigating fraud, and adding layers of manual checks that slow future transactions.
- End Customers and Projects may suffer delays and cost overruns as work stalls until suppliers are paid correctly.
This shared pain is why payment fraud is so damaging. And why preventing it must be a priority.
Why Supplier Bank Account Verification is Critical
Finance teams rely on suppliers to provide correct bank details — often through email or uploaded PDFs. Fraudsters exploit this trust by intercepting or impersonating communications, changing the bank account information, and diverting payments.
Manual verification methods, like calling a supplier or checking a scanned document, can be time-consuming and prone to error. In a busy procurement or finance department, these manual steps are often skipped, creating the perfect opening for fraud.
How Achilles + DIRO Stop Push Payment Fraud
Achilles has added DIRO’s bank account verification technology to its supplier onboarding solution — at no cost to suppliers — to help businesses fight back against push payment fraud.
Here’s how it works:
- Supplier Consent: Supplier Bank Account Verification starts only when a supplier agrees.
- Direct Data Capture: DIRO retrieves bank account details straight from the supplier’s bank or a government portal.
- Real-Time Verification: The system confirms account ownership and status, usually in under a minute.
- Tamper-Proof Results: Data is provided in a secure, machine-readable format that feeds directly into Achilles workflows.
This approach ensures payments go to the right place — and prevents fraudsters from inserting themselves into the process.
Benefits Beyond Fraud Prevention
Adding DIRO to onboarding does more than block fraud attempts:
- Faster Supplier Onboarding: Verified data means fewer back-and-forth requests, speeding up payment approvals.
- Regulatory Compliance: Supports Know Your Business (KYB) and Anti-Money Laundering (AML) workflows.
- Reduced Risk of Human Error: Automated checks replace manual calls and document reviews.
With global coverage across 195 countries and connections to 44,000 banks, 9,000 utilities, and 700 government portals, DIRO is built to scale with global supply chains.
Building Trust, Protecting Payments
Supplier relationships are built on trust — and nothing damages trust like a payment gone wrong. By verifying bank accounts directly at the source, Achilles + DIRO protects suppliers and buyers alike, reducing fraud risk and keeping money flowing where it’s meant to go.
Ready to Secure Your Payments?
Don’t wait for fraud to disrupt your operations. Complete the form to book a meeting and learn how Achilles + DIRO can enhance your supplier onboarding process and safeguard your payments against fraud.
Frequently Asked Questions About Push Payment Fraud
What is push payment fraud?
Push payment fraud occurs when criminals trick a business into sending money to a fake bank account, often via phishing emails, fake invoices, or altered payment instructions. It’s called “push” fraud because the victim authorizes the payment themselves, believing it to be legitimate. This type of fraud can cause significant financial loss and disrupt supplier relationships. Advances in AI make it easier for fraudsters to create convincing fake documents, increasing the risk and scale of attacks.
How do I prevent supplier bank fraud?
Always verify supplier bank details directly with trusted sources rather than relying on emails or uploaded documents. Automated verification tools can check ownership and account status in real time. When combined with internal controls like multi-step approvals and supplier authentication, these measures significantly reduce the risk of fraudulent payments and help future-proof your enterprise against AI-enabled fraud.
Why is bank account verification important for procurement?
Bank account verification ensures payments are sent to the correct supplier, reducing the risk of fraud and errors. It also supports compliance with regulations such as Know Your Business (KYB) and Anti-Money Laundering (AML). For procurement teams, automated verification improves efficiency and reduces the need for manual checks, safeguarding the business against increasingly sophisticated fraud attempts.
How does Achilles + DIRO work?
Achilles + DIRO verifies supplier bank accounts in real time, capturing data directly from banks or government portals with the supplier’s consent. The platform confirms authenticity, detects tampered documents, and delivers results in a secure, machine-readable format. This ensures payments go to the right account while reducing manual effort and minimizing fraud risk.
