€10.5m stolen from Irish businesses in invoice redirection fraud in 2020 Wednesday, March 10, 2021 In 2020, approximately €10.5 million was stolen from Irish businesses through invoice redirection fraud. In most of these cases the money was transferred abroad, proceeds of these crimes can then be laundered through accounts in Ireland. Invoice redirect fraud or business email compromise (BEC) fraud is where the fraudsters send an email to a business purporting to be from a supplier etc, requesting the immediate payment of an invoice or transfer of funds. Fraudsters may spoof an email address, send ‘spear phishing’ emails or use malware to get the data.