Supplier fraud is a form of financial misstatement by suppliers and vendors, which occurs when they intentionally misrepresent their services, goods or prices in order to deceive the buyer. It can come in the form of inflated invoices, billings for goods that weren’t actually delivered, or falsified agreements between the two parties. By undervaluing the products or services provided and then billing for higher amounts, suppliers often times experience significant financial gains at the expense of their customers. As such, it’s essential for businesses to be vigilant in identifying and preventing supplier fraud.