Common Scenarios for Vendor Payment Fraud

August 11, 2020


A fraudster will often attempt to change a legitimate vendor's payment information in the following ways: The fraudster impersonates a vendor. The fraudster uses the vendor's e-mail address extension and requests a change in the payment address and/or bank account information. The fraudster may also attach supporting documentation, such as a replica of a cancelled check and W-9. This is the most common scenario. The fraudster hacks your company‚Äôs e-mail system. The fraudster adopts an…

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