We were thrilled to contribute to Informa’s Fraud Intelligence publication with an article to explore how locking down your vendor master can significantly help eliminate the risk of an increasingly costly threat – business payments fraud.
Increasingly savvy fraudsters have noticed and exploited all that is involved with vendor onboarding and maintenance fueling a significant increase in fraud attempts over this past year.
The article, “Fight Payments Fraud by Locking Down your Vendor Master,” offers readers practical advice on how to narrow the point a fraudster can enter your organization and jeopardize your business. While alarming stats from AFP Payments Fraud and Control Survey and the Federal Bureau of Investigation’s Internet Crime Report can evoke a feeling of inevitability - ‘not if but when’ your organization will fall victim to business payments fraud attempt - there is hope!
Our own Taylor Nemeth walks readers through the steps to take today to improve and safeguard the vendor onboarding and maintenance process. Sadly, 79% of you reading this will have an attempted fraud happen at your company this year. 34% won’t catch a successful fraud in time to pull back any of the funds. This problem deserves your attention. If you don’t have the means in-house to lock down your vendor master data, let’s talk about how we can help and give you security, peace of mind and good night’s sleep you deserve!
Read the entire article here.
