Fraud Prevention for AP and AR

Fraud is an ever present threat for AP and AR practitioners. The pages in this section will help you take appropriate steps to prevent fraud - or, understand what to do if you think you are the victim.

Don't Let the Phishers and Fraudsters Win

Keep Your Organization Safe from Vendor Payment Fraud Attempts

Judging from recent news reports—and from what IOFM is hearing from its financial operations professionals—cyber threats are

AP Fraud Generally Indicates a Failure to Implement Internal Controls

By Pam Miller, APMD Every time you see a headline about an employee who has stolen thousands of dollars from an employer, it invariably involves a so-called “trusted” employee who has been given… Read More

Common Scenarios for Vendor Payment Fraud

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… Read More

Community Call: Fraud Identification and Prevention

On Friday, July 31st, from 12 p.m. to 1 p.m., IOFM conducted a Community Call with Financial Operations professionals to discuss best practices for mitigating the risk of fraudsters from inside and… Read More

Keep Fraudsters at Bay By Tightening Up Your Controls

Fraudulent activities are rooted in the ability of bad actors to gain unauthorized access to funds by circumventing weak financial controls, points out Michael Volkov, CEO of the Volkov Law Group… Read More

Community Call: Healthcare Industry

On Monday, June 8th, from 12 p.m. to 1 p.m., IOFM conducted a Community Call with Financial Operations professionals in the Healthcare Industry. The Zoom call was moderated by IOFM's Executive Editor… Read More

“AP & P2P Professionals Speak” Video Series

The “AP & P2P Professionals Speak: On Pain Points, Working Together, and Successes” video series explores challenges faced by real life accounts payable and procure-to-pay pros, and their… Read More

What to Do to Avoid T&E Red Flags

Controlling costs is a top priority for every organization. Plus, employee fraud—check tampering, phony payments, and expense report trickery—is an ongoing worry. Employee travel and… Read More

Internal Controls & Risk Management Master Class

Course type: Self-study | On-demand

Registration fee: $249 per learner

IOFM CEUs available: 3

Estimated learning hours: 1-3

Technology Requirements: Most updated version

How to Spot a T&E Fraudster

T&E fraud is the most frequent type of employee fraud.

The so-called "fraud triangle," developed over 50 years ago by Donald Cressey, helps explain why. The three sides of the fraud triangle are

T&E fraud is the most frequent type of employee fraud. - The so-called "fraud triangle," developed over 50 years ago by Donald Cressey, helps explain why. The three sides of the fraud triangle are… Read More