Payments Fraud Detect & Prevent Check, ACH and P-Card Schemes

This training program will examine vendor/billing schemes that exploit payments process control weaknesses; the latest electronic payments schemes (ACH hijacking, spear-phishing, social engineering); check counterfeiting, forgery, and tampering schemes to be aware of; and, detect common external payments schemes versus internal attacks.

• Who commits each major type of payment fraud—focusing on the check, ACH, and –P-Card schemes
• Insight from investigating actual fraudsters
• Vendor/billing schemes that exploit payment process control weaknesses
• Latest electronic payment schemes (ACH hijacking, spear-phishing, social engineering, and more)
• Check counterfeiting, forgery, and tampering schemes to be aware of
• How to detect common external payment schemes versus internal attacks
• Conducting a cost-effective fraud risk assessment of your most commonly used payment methods
• Identify the critical red flags of all forms of check, ACH, and P-card fraud
• Detect payment fraud before material financial damage occurs
• Obtain optimal payment fraud prevention tools from your financial institution
• Recommend better payment fraud control structure—including segregation of duties, employee background checks, and employee awareness training

Until recently, paying vendors was a simple matter of processing an invoice and issuing a check. No longer. Ongoing advances in technology, credit card, purchasing card (P-card), ACH, and wire transfers require advanced payment techniques. And with that trend, unfortunately, are coming new opportunities for fraudsters to steal from your organization.

This is a fast-changing threat matrix. The Association for Financial Professionals (AFP) estimates that over 73% of all organizations are targets of payment fraud. While not all attacks result in fraud-related losses, this statistic alone confirms that criminals are as aggressive as ever in attempting to misappropriate funds via the various forms of payment fraud.

This webinar will focus on how all this means that organizations must stay informed about new and existing payment schemes on an ongoing basis. The risk of failing to do so is loss of massive amounts of customer credit card data, exposure to new forms of check fraud, and costly new techniques for having your ACH and wire transfer account(s) hijacked by sophisticated cyber-criminals as well as your own employees.

• CPAs
• Financial services professionals
• Senior financial executives
• Internal auditors
• AP managers
• Treasury staff
• Operations managers
• Controllers, CFOs
• Treasurers
• Compliance officers
• Security and risk managers

Brian G. Rosenberg, CEO of TRG Consulting, is a leading expert in AP automation and process improvement. He has over 15 years in the design of accounts payable shared service centers and nearly 20 years of experience with the implementation of accounts payable solutions. Mr. Rosenberg is also the chairman of the editorial board for Financial Operations Matters magazine and is a published author, and speaker, on procure-to-pay best practices.