Payments Fraud Mitigation: Trends, Technology, Employee Education by 360 Thought Leadership
Payments fraud is rampant. According to the 2018 AFP Payments Fraud and Controls Survey, 78% of company respondents were targets of payments fraud in 2017, an all-time high. As expectations and complexities of accounts payable continue to rise, finance organizations are required to support diverse electronic payment methods, initiate riskier cross-border transactions, and take on dynamic tax compliance and financial reporting – all while operating with a smaller operational footprint. Manual processes in this environment are creating dangerous gaps in maintaining and strengthening robust financial controls. The risks are substantial because money that leaves a company’s bank account – certainly by nefarious means – is not coming back.
Join us as we review the key results of the 2019 AFP Payments Fraud and Controls survey. Treasury expert Ernie Humphrey will share best practices of companies that are transforming payables organizations to mitigate and even eliminate risk exposures.