July 2025: Fraud-Proof Your Processes

August 8, 2025

Your greatest defense against fraud? Knowing where it hides.

In the fast-paced world of financial operations, it’s easy to trust that familiar workflows are doing their job. But fraud doesn’t strike where you’re watching — it slips through the corners: a duplicate invoice, an unfamiliar vendor, a late-day approval.

This month’s Insider is here to help AP and AR teams strengthen their fraud defenses with smart tools to flag suspicious activity and proven strategies to close critical process gaps. Efficiency is important, but airtight workflows are what keep fraudsters out.

This Month’s Quick Take: Fortifying AP Against Fraud

In a world where financial workflows are growing faster—and more digital—than ever, fraud isn’t just a risk. It’s a reality. And for Accounts Payable teams, the pressure is on to spot vulnerabilities, reinforce weak points, and lead with vigilance.

From outdated vendor records to loose internal controls, fraudsters count on routine gaps to make their move. But with the right training and frameworks in place, AP leaders can transform those gaps into guardrails.

To help you build a fraud-resistant foundation, IOFM recommends two expert-led Master Classes: Vendor Master File Master Class, which covers best practices for maintaining accurate, compliant vendor data, and Internal Controls & Risk Management Master Class, designed to help you identify risks early and strengthen the safeguards that keep fraud out.

DISCOVER MORE MASTER CLASSES

FREE WEBINAR: Virtual Cards 101: An Introduction to Virtual Cards for B2B Spend

Join IOFM and Mastercard’s Bob Cohen for an on-demand crash course on virtual cards. Whether you're in AP, finance, or travel management, you'll learn how virtual cards can automate reconciliation, unlock rebates, boost security, and reduce costs—while tightening your grip on spend control.

WATCH ON DEMAND

FREE WHITE PAPER – Leadership in the Face of Fraud: A Fraud Response Plan for the Vendor Process

Vendor fraud is evolving fast — especially when it starts with a simple email. In this IOFM Editorial White Paper, Debra Richardson shares how to recognize BEC scams, respond with confidence, and strengthen vendor data controls. Download now to secure your AP process.

DOWNLOAD WHITE PAPER

MEMBER WEBINAR – Mastering the W-9: Tips, Tricks and Risk Mitigation

Form W-9 is more complex than it seems – and getting it wrong can lead to major compliance issues. Join IOFM and Jason Dinesen for this On-Demand Compliance Webinar as we break down how to validate W-9s, handle tricky entity types like LLCs, and avoid common mistakes that put your AP team at risk.

WATCH ON DEMAND

Level Up Your AP Team: Leadership Tools from IOFM

15 Ways to Prevent the Most-Common AR Frauds

Think AR fraud can’t happen to you? Think again. From embezzlement to fake refunds, this article explores five real-life AR fraud cases — including a $500K scam that went unnoticed for years. Learn what happened, why it worked, and what you can do to prevent it.

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Best Practices for Verifying ACH Bank Accounts to Prevent Fraud

Struggling to verify ACH accounts from smaller banks or credit unions? In this Ask the Expert response, Debra Richardson shares practical tips and best practices AP teams use to confirm bank details and reduce fraud risk when your verification tool falls short.

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