Fraud Prevention for AP and AR

Fraud is an ever present threat for AP and AR practitioners. The pages in this section will help you take appropriate steps to prevent fraud - or, understand what to do if you think you are the victim.

Best Practices for Verifying ACH Bank Accounts to Prevent Fraud

Q. Currently we use a bank account verification service from PNC. This allows us to enter the ACH… Read More

Understanding USPIS and Combating Mail Theft-Related Check Fraud

The United States Postal Inspection Service (USPIS) is the nation's oldest law enforcement agency, founded to ensure the security and integrity of the US Postal Service. As check fraud via mail theft

IOFM Spring Session Could Have Prevented a $25 Million Deepfake Fraud

A new IOFM Spring conference session could help you avoid being the next deepfake victim.

Using AI images and voices, a Hong Kong-based company was tricked out of $25 million. According to

Recommended Resources for AP Fraud Screening Best Practices

Q. Do you have any recommended sources for industry standards and best practices around AP fraud… Read More

Managing Vendor Forms and Anti-Fraud Requests: Best Practices for AR Teams

Q. More and more customers are requiring our company to complete “Vendor Forms” or similar… Read More

Implement A Security Audit to Prevent Fraud

In today's fraud landscape, keeping your organization’s vendor and customer sensitive data from unauthorized access is critical. Implementing a security audit that includes least privileged is

Fraud Alert: IOFM Member Identifies Currency Conversion Scam

Converting foreign funds into U.S. dollars is a costly and time-consuming effort. So, if your AR contact says you can just pay in local currency, you might be tempted to jump at the offer.

But