Cyber Safety: Preventing Invoice Fraud

August 7, 2023

As cybercrime continues to evolve, one concerning trend impacting CDF clients is the rise of Invoice Fraud, also known as Invoice Hacking or Invoice Redirection.

Invoice Fraud occurs when cybercriminals impersonate legitimate businesses and suppliers, intercepting emails containing invoices. These criminals send altered emails with invoices bearing their own bank account details, tricking recipients into making payments to fraudulent accounts.

The impact of Invoice Fraud has been significant. Since the Covid-19 pandemic, Scamwatch has reported that Australia's small businesses suffered losses of $14 million due to Invoice Fraud scams.

What makes Invoice Fraud particularly challenging to detect is its sophisticated nature, as there may be no obvious signs of a scam. Unlike traditional email scams, these fraudulent invoices often do not contain spelling mistakes or fake email addresses that would raise suspicions. Victims may remain unaware of the deception until weeks later when the genuine supplier contacts them to request payment, by which time their money has already been lost to cybercriminals.

To help safeguard your business against invoice fraud:

1. Always verify changes

When you receive requests to alter bank account details, email addresses, or payment information, take the time to verify these changes over the phone, using a contact number you already know or from the supplier's official website. Avoid using the contact information provided in the invoice, as it could be fraudulent. Human interaction during verification can minimize the risk of falling victim to invoice hacking.

2. Exercise caution and diligence

Avoid rushing or being pressured into making payments quickly; instead, carry out due diligence by double-checking the legitimacy and accuracy of the provided account details.

3. Review email addresses

Closely scrutinize any change requests to ensure they are not spoof emails. Look for any anomalies or inconsistencies in the email addresses, font or language, which could be indicative of fraudulent activity.

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Building Faith and Community: How a Tech-Savvy Teen Saint Inspired a New School

September 1, 2025

It's lunchtime at Carlo Acutis Catholic Primary School in Wollert , part of Melbourne's northern growth corridor, and the sound of spirited play fills the air as children explore the grounds of their brand-new school. The red and blue of their uniforms, still fresh in the school’s foundation year, is a deliberate tribute to their patron's favorite colours. Named after Italian teenager Carlo Acutis, who used his coding skills to document and celebrate Eucharistic Miracles before dying from leukemia in 2006 at just fifteen years old, the school embodies the spirit of a remarkable young man who will soon become the first of the 'influencer' generation to be canonised as a Saint on the 7th September 2025. "He lived a life of faith, of service, of generosity and courage, and these are the values that we take for the life of this school," says Foundation Principal Damian Howard, who traveled to Assisi in Italy where Carlo is buried and had the honor of meeting Carlo's mother to learn more about her son's qualities and discuss plans for the school. The primary school opened in February this year and was built with the assistance of a $10.3 million loan from CDF, creating a focus point for a new Catholic community.

CDF Announcement: Chief Executive Officer Transition

August 1, 2025

Announcement: 1 August 2025

A New School Program Helps Bridge Generation Gap

July 28, 2025

A new program called Generations of Value has been introduced in Catholic primary schools across Australia at the start of Term 3, 2025. The program aims to help children appreciate the unique contributions of people at all stages of life, showing them how society is stronger and more vibrant with generations working together. The program was developed by Mercy Health Foundation , Australian Catholic University (ACU) , Meaningful Ageing Australia and Catholic Health Australia , and sponsored by Catholic Development Fund (CDF). One of the main instigators, the foundation’s partnerships manager, Mark Trayli ng, says the thinking behind the program stemmed from a comment by his grandfather, a naval man, that when people lose their last parent, they become a ship without a rudder. ‘I appreciated the sentiment because it underscored how much we rely on previous generations for guidance ,’ Mr Trayling says. ‘ But upon reflection, I’d modify that image: while growing up, it’s helpful to have two hands on the tiller and someone pointing to the North Star—so that later in life, we’ll know how to steer on our own. Generations of Value is a reflection of this sentiment .’ Older people now are healthier, more educated and more involved than they ever have been.

CDPF Limited, a company established by the Australian Catholic Bishops Conference, has indemnified the Catholic Development Fund ABN 15 274 943 760 (the Fund) against any liability arising out of a claim by investors in the Fund. In practice, this means your investment is backed by the assets of the Catholic Archdiocese of Melbourne. The Fund is required by law to make the following disclosure. Investment in the Fund is only intended to attract investors whose primary purpose for making their investment is to support the charitable purposes of the Fund. Investors’ funds will be used to generate a return to the Fund that will be applied to further the charitable works of the Archdiocese of Melbourne and the Dioceses of Sale and Bunbury. The Fund is not prudentially supervised by the Australian Prudential Regulation Authority nor has it been examined or approved by the Australian Securities and Investments Commission (ASIC). An investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959 (Cth). The investments that the Fund offers are not subject to the usual protections for investors under the Corporations Act (Cth) or regulation by ASIC. Investors may be unable to get some or all of their money back when the investor expects or at all and investments in the Fund are not comparable to investments with banks, finance companies or fund managers. The Fund’s identification statement may be viewed here or by contacting the Fund. The Fund does not hold an Australian Financial Services Licence.