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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Walking Together on Wardandi Country: A special day for Bunbury Catholic Primary Schools

May 30, 2025

CDF was proud to support Bunbury Catholic College and local Catholic primary schools across the Diocese of Bunbury through sponsorship of the Wardandi Gift - an annual celebration of Aboriginal culture, language, and learning on Noongar Country. Held at Bunbury Catholic College , the event brought together over 200 students from five Catholic primary schools across the region. Now in its third year, the Wardandi Gift is becoming a recognised fixture in the Bunbury Diocese—an opportunity for young people to engage deeply with the stories, languages, and traditions of the First Peoples of the Southwest of Australia.

20 Years of Impact: CDF Joins the 2025 Vinnies CEO Sleepout

May 13, 2025

This year marks the 20th anniversary of the Vinnies CEO Sleepout with more than $100 million raised so far to combat homelessness across Australia. It also marks 50 years of the Vinnies Soup Van program, which offers meals, care, and hope to those doing it tough. On Thursday 19 June 2025, Catholic Development Fund (CDF) will once again join leaders across Victoria for the annual event — sleeping out at South Melbourne Market — in a night of solidarity, reflection, and action. Following on from last years’ success, the CDF team is stepping up to sleep rough. Among them is David Brown, CDF’s General Manager IT and Products, who reflected on his experience last year: " Hearing the stories of a young woman fleeing domestic violence and a man who had fallen through every safety net reminded me that homelessness can happen to anyone. That night gave me a deep appreciation for the support services that Vinnies provides—and how much more is needed.”

A new Catholic Education Hub at Mt. Atkinson in Melbourne’s West, is set to Build Foundations of Faith and Learning

May 7, 2025

Located just 25km from Melbourne CBD, Mt Atkinson is part of the broader Melton growth corridor in Truganina, which sits within the fast-developing Western region of Victoria. While birth rates have declined across the state in recent years – this region remains an outlier with one of the highest birth rates in the state, averaging 23 babies born each day. The boom in population has corresponded to an increased demand for schools, early learning centres and community services in the grassroots estate. Meeting the needs of the community is St Marianne Cope Catholic Primary School which is set to open in 2026. The new education precinct will not only house the new school, but also a MACSEYE Children’s Hub, delivering faith-based learning and early years education to growing families. This state-of-the-art development will be supported by a $10.6 million loan from CDF.

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.