Your Last Line of Defense: Stopping Payment Fraud Before Money Moves

Payment fraud is becoming faster, more convincing, and more difficult to detect.  With AI helping criminals impersonate vendors, fabricate documents, mimic voices, and create highly credible payment-change requests, accounts payable teams (AP) can no longer rely on emails, phone calls, and manual reviews to determine whether banking information is legitimate.

AP has an opportunity to become a front-line defense against these increasingly sophisticated schemes.  In this webinar, our speakers will explore practical strategies for strengthening vendor verification and bank account ownership validation and reducing the risk of fraudulent or misdirected payments.  They will also demonstrate how automated bank account verification can replace time-consuming, error-prone procedures with a more secure, consistent, and auditable process.

What you will learn:

• The warning signs of AI-generated vendor impersonation and payment-change scams.
• Vulnerabilities in verification processes that depend on emails, phone calls, voided checks, and bank letters.
• Strategies for automating the verification of vendor bank account ownership before payments are released.
• How to reduce the manual effort, delays, and potential for human error associated with traditional verification methods.
• Tips for building a layered, auditable defense that helps prevent payment fraud without slowing down AP operations.

Mark Brousseau
President, Brousseau & Associates 

Over the past 30 years, Mark Brousseau has established himself as a thought leader on accounts payable, accounts receivable, payments and document automation.   A popular speaker at industry conferences and on webinars and podcasts, Brousseau advises prominent end-users and solutions and services providers on how to use automation to improve document- and payments-driven business processes.  Brousseau has chaired numerous educational conferences and has served on several industry committees and boards.  He resides in Center City Philadelphia with his wife and three sons.

Phil Binkow
CEO, Financial Operations Networks

Phil Binkow is CEO of Financial Operations Networks, developer of the InvoiceInfo and VendorInfo vendor portals. In 2002, FON founded The Accounts Payable Network, the leading training, certification and best-practice resource for individuals with management responsibility for accounts payable operations. Prior to starting Financial Operations Networks, Phil was CEO of PayTECH, one of the world’s largest invoice processing and spend analysis Software-as-a-Service companies.