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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CDF Catholic Connect Explores Navigating Economic Change with Confidence and Purpose

By Michelle Ross-FitzGerald • August 4, 2026

Catholic agency leaders are being urged to face a world of "brutal realities" with clear purpose, disciplined leadership and hope. At the recent CDF Catholic Connect workshop, leading economist Ivan Calhoun warned that AI, geopolitics, inflation and productivity pressures are reshaping the environment in which Catholic organisations operate. Insights from Leading Catholic Sector Voices Professor Elizabeth Labone – Chief Executive Officer, Victorian Catholic Education Authority (VCEA) Virginia Bourke – Chair, Mercy Health Martin Teulan – Chief Executive Officer, Association of Ministerial Public Juridic Persons (AMPJP) John McClusky – Chief Executive Officer, Catholic Development Fund (CDF) Ivan Colhoun – Independent Economist

Applications Now Open for the 2026 Father James Wall Bursary

July 14, 2026

As CDF celebrates 70 years of empowering Catholic communities, we are delighted to announce that applications for the 2026 CDF Father James Wall Bursary are now open. To mark our 70th anniversary, the value of each bursary has increased from $5,000 to $7,000. Seven bursaries will be awarded across the Archdiocese of Melbourne and the Dioceses of Sale, Ballarat and Bunbury, supporting outstanding Year 10 students as they complete Years 11 and 12 at a Catholic secondary school. Honouring a founding vision Established in 2002, the Father James Wall Bursary honours the vision of CDF's founder, Fr James Wall. In 1956, at a time when Melbourne was experiencing a post-war population boom and government funding for Catholic schools was unavailable, Fr Wall established the Fund, as a new way for Catholic communities to invest in the future of education and support schools in growing communities. For 70 years, CDF has continued that mission, partnering with Catholic organisations to build schools, churches, health care services, aged care facilities and other projects that strengthen communities. The Father James Wall Bursary carries that same spirit forward, investing directly in young people who demonstrate the leadership, service and compassion that Fr Wall's vision was built upon. Since its establishment, the Bursary has supported 119 students, helping them complete their senior secondary education and grow into confident leaders making a meaningful contribution to their schools and communities. CDF CEO John McClusky said the increase in bursary value is a fitting way to mark the anniversary. " As we celebrate CDF's 70th anniversary, it is fitting that we honour Fr James Wall's legacy by increasing the value of these bursaries and continuing to invest in young people who are already demonstrating leadership, compassion and service within their school communities."

Multi Factor Authentication - The Second Lock That Could Protect Your Organisation

July 6, 2026

Cyber criminals are constantly looking for the easiest way into your systems, and unfortunately, passwords alone are no longer enough. Even strong passwords can be compromised through phishing emails, data breaches, malware or social engineering attacks. Once a criminal has your password, gaining access to email, cloud platforms, financial systems and sensitive information can be alarmingly straightforward. This is where Multi Factor Authentication (MFA) becomes one of the most effective cyber security controls available. Think of it as a second lock on your front door: a stolen password may open the first, but MFA prevents criminals from walking straight in.

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.