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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.
Q. We recently discovered that a payment we released went to a fraudulent vendor. It was a phishing… Read More
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
… Read More
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
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
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
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
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