Electronic invoicing, or e-invoicing, is sweeping the globe as governments seek to eliminate tax fraud and maximize revenue collection; however, it carries with it similar security risks that have emerged from other digital transformation initiatives. Specifically, the advent of e-invoicing is akin to the healthcare industry’s introduction of electronic health records (EHRs).
Around the world, governments are beginning to mandate electronic invoices for both sending and receiving shipments so tax authorities can keep tabs on every taxable transaction; a few countries have even eliminated paper invoices altogether and started enforcing tax rules in real time.
Electronic health records remain a vector for attacks
E-invoicing remains in its infancy in most countries. However, the fear is that as data thieves become aware of it, e-invoicing could suffer from the same security risks as EHRs.
By John Strasser
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