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

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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 transfer 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 payments 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 payments fraud.

• Who commits each major type of payments fraud—focusing on check, ACH and –P-Card schemes

• Insight from investigating actual fraudsters

• Vendor/billing schemes that exploit payments process control weaknesses

• Latest electronic payments schemes (ACH hijacking, spear-phishing, social engineering and more)

• Check counterfeiting, forgery and tampering schemes to be aware of

• How to detect common external payments schemes versus internal attacks

 

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