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.

Non-U.S. Vendor Setup Series Part 8

Watch Out for These Unique Risks When Onboarding Non-U.S. Vendors by Debra R. Richardson If your company is global, you may need to onboard vendors from different countries and regions. This can… Read More

Outsmarting Voice Clones

Question All Callers, Including Your Leadership - by Debra R. Richardson The Bloomberg article ‘I Need to Identify You’: How One Question Saved Ferrari From a Deepfake Scam (find link below)… Read More

Non-U.S. Vendor Setup Series Part 6

Confirming Remittance Changes Despite Language Barriers and Time Zone Differences by Debra R. Richardson When a U.S. vendor makes a change to its banking details for an electronic payment or a… Read More

IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

AI deepfake training

Q. Is there a third party vendor that can do yearly in depth trainings on new frauds and… Read More

How Fraudsters Are Using Artificial Intelligence For Payment Fraud

by Debra R. Richardson The IOFM article What Is Artificial Intelligence and How Does It Impact Finance Operations? provides a great background, current and future use of artificial intelligence… Read More

AP and Fraud Prevention Are High on Airdrie’s Agenda

An Interview with Lorri Derbowka Airdrie, Alberta, is one of the fastest growing cities in Canada. It is also the highest city in Canada with an elevation of 3,602 feet. But that’s not the only… Read More

“Code Red”: Recovering from a Ransomware Attack

On an otherwise quiet morning in January 2022, Accounts Payable Manager Robert Martinez received a “Code Red” message at his home from the IT Department at Bernalillo County, New Mexico. The… Read More

Internal Fraud: Real-Life Cases

Fraud is happening everywhere, all the time — but often, we never hear about it. When it’s a matter of internal fraud perpetrated by an employee, quite often the individual is simply fired and… Read More

Quiz: How Fraud-Smart Are You?

External and internal fraudsters, scammers and other malicious individuals are always on the lookout for an easy way to lure your organization to release funds and divulge confidential information.… Read More