Fraud & Abuse

by Debra R. Richardson, MBA, APM, APPM, CPRS

Each time I make a change to any of my personal accounts online, I receive a notification that, at a minimum, says a change was made to my account and if

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Strong internal controls and proper training are proven deterrents to fraud. In recent reported cases, Accounts Payable professionals have been able to keep potential malicious intruders at bay,

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As fraud expert Rocco Lueck, Assistant Professor of Accounting and Risk Management at Hilbert College, noted at a recent IOFM AP & P2P Conference, "Accounts Payable professionals cannot

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As fraud expert Rocco Lueck, Assistant Professor of Accounting and Risk Management at Hilbert College, noted at a recent IOFM AP & P2P Conference, "Accounts Payable professionals cannot completely… Read More

Alan Wenk, corporate accounts payable manager at the Performance Contracting Group in Lenexa, Kansas, believes that AP professionals can sometimes lose sight of the “whys and wherefores” of… Read More

When looking at the damaging effects of fraud on a business, three major companies come to mind: WorldCom, Enron, and Toys ‘R’ Us. In each of these cases, weak or nonexistent internal controls… Read More

Q. (cont.) Does anyone use a third party to check the account info? If so, what information is

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Q. (cont.) ... to validate additions or changes to banking information on ACH payments. We are

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From our advisory panel: ----- I have a process in place with my team for all remit

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A common myth about purchasing cards (P-cards) is that they are easy targets for fraud and employee misuse. The pervasiveness of this myth may have convinced some organizations to resist their

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During tough economic times, it’s more important than ever to control costs. Plus, employee fraud—check tampering, phony payments, and expense report trickery—tends to increase. Employee travel… Read More