Pay the Right Vendor: Tips to Avoid Payment Fraud

Whether your vendors are paid via check, electronic or card payment method, fraudsters have figured out a way to divert those payments for fraudulent use.  Discover the latest social engineering tactics and what tools are available for you and your team to combat these tactics to prevent fraud.  Get information on what financial institutions and payment providers have in place to avoid payment fraud based on payment method. 

Takeaways: 

• The latest social engineering tactics used by fraudsters to divert your vendors’ payments.
• How to avoid payment fraud when making check, electronic or virtual card payments.
• Tools available at the user level to detect fraudulent requests.
• Daily email habits to protect you from fraudulent activity.

Debra Richardson
AP Speaker, Consultant, & Trainer at Debra Richardson, LLC

Debra is an accounts payable speaker, trainer, and consultant. An accredited Accounts Payable Manager, Procure-to-Pay Manager, and Payment Reporting Specialist, she has over 20+ years’ experience in accounts payable, accounts receivable, general ledger, and financial reporting for Fortune 500 companies. Debra now focuses on working with Accounts Payable and Procurement Teams to protect the Vendor Master file from Fraud by providing both free and paid vendor content and resources to clean-up vendor data, and clean-up their vendor processes so they pay the right vendor. She speaks regularly at in-person conferences and virtual events for IOFM, other Accounts Payable organizations, and 3^rd Party Providers. She is also the “Ask the Expert” for vendor process questions submitted through IOFM.

Grace Chlosta
Content Manager, IOFM

Grace Chlosta joined the Institute of Finance & Management (IOFM) in 2022 in a new role for the team as the Content Manager. She is responsible for the planning, organization, development, and implementation of all the content for IOFM’s digital products and (virtual and in-person) events. Grace is committed to ensuring that IOFM’s content stays timely, relevant, and actionable for all financial operations professionals, and works closely with a team of content developers, industry leaders, and subject matter experts to guarantee this happens.