Fraudsters are targeting AP and Treasury. Are you next?

Posted by Angela Sarno on Aug 3, 2021 10:01:00 AM

"I feel as if I am holding a hand grenade with the pin pulled."

This is an actual quote from one of our customers, before she was a customer.  We hear versions of this all of the time when we speak to prospects. People are scared. 

Read More

Topics: compliance, payments fraud, AP, ACH, vendor master, risk

Covid-19 and the Acceleration of Identity

Posted by Taylor Nemeth on Jul 21, 2021 9:50:00 AM

Hopefully, you have already read the highlights from the first part of our absorbing interview with Dave Birch. (You can listen to the podcast here.)

And if you have then by now you know that as one of the industry's top money experts he writes books and advises companies, among his many endeavors. Birch's name and reputation is well established in the field of identity. shutterstock_726137065

But that doesn't mean he is any different from anyone else who has to go through the exhaustive efforts of proving their identity. As an executive officer of a company that was entitled to some pandemic assistance last year, Birch needed to provide proof of his address in order to facilitate what he referred to as "this ridiculous process."

Read More

Topics: compliance, podcast, risk, identity

Bolstering the Team

Posted by PaymentWorks Staff on May 12, 2021 1:30:57 PM

 

Read More

Topics: compliance, payments fraud, procurement, vendor master, risk

Third Party Risk Management: A Primer With Yakut Akman

Posted by Taylor Nemeth on Feb 2, 2021 10:01:00 AM

 

 

Yakut Akman has 40 years of experience in financial services, covering a wide range of functions globally, including Operations & Technology, Risk Management, Audit, and Regulatory Compliance.   yakut akman headshot

She recently joined us for our Risky Business Podcast.  Excerpts from that conversation are below.  You can listen to the entire interview here.

Ms. Akman started her career at Citibank Istanbul as an Executive Trainee and then worked in multiple locations gaining extensive global experience. Over time, she excelled in Operations Management as a thought leader and a change agent as the financial markets, and in response, the regulatory expectations grew more complex. Ms. Akman focused on process efficiency and effectiveness while balancing operational risks and controls. She sharpened these skills in Internal Audit overseeing new emerging risks. As a Risk Manager of key businesses, Ms. Akman actively interacted with government agencies around the world. She successfully addressed high-profile, enterprise-wide issues by setting standards, building trust and achieving sustainable results.


Read More

Topics: compliance, podcast, risk

Five Ways Your Vendor Master is Costing You Money- Compliance Edition

Posted by Angela Sarno on Sep 29, 2020 10:15:00 AM

Compliance is not anyone’s favorite word. The angst and tension many procurement and AP staff work with on the daily is only exacerbated by the worry of accidentally violating terms of compliance.  There are the considerations of the external world, such as the OFAC and debarment lists that haunt payments professionals (hello giant federal fine!), but there is also the world of internal compliance- much of it shifting with stunning regularity.  linkedin wasted money

Read More

Topics: compliance, AP, insurance, vendor master

Treasury in Higher Ed: Protecting and Serving

Posted by Taylor Nemeth on Sep 22, 2020 9:58:00 AM

 

We recently spent time with Valarie Van Vlack, the Treasurer at Texas State University, discussing the role of Treasury in supporting the university’s mission, as well as the ubiquity- and creativity- of fraudsters attempting to scam higher education institutions.  Excerpts are below.  You can listen to the full interview here.

Read More

Topics: compliance, higher education, podcast, #paymentsfraud

Q&A: Clay Deutsch on the Evolution of Risk

Posted by Taylor Nemeth on Aug 26, 2020 10:05:00 AM

Clayton Deutsch has been a strategic advisor to PaymentWorks since our early days, bringing us decades of experience in the financial sector, most recently as CEO of Boston Private Bank.  Prior to that he was a managing director at McKinsey.  Clay brings an unrivaled perspective on what risk assessment entails and what is at stake for a company if a payments fraud gets through.  Our head of strategy and market development, Taylor Nemeth, recently sat down with Clay to discuss why it’s so difficult to solve the problem of securely and efficiently onboarding vendors, and how this problem contributes to the overall risk a company needs to manage.

Originally recorded for our initial podcast,  the conversation is excerpted below and has been edited for clarity. You can listen to the entire podcast here.

Read More

Topics: compliance, payments fraud

Mutually Exclusive? Cyber Insurance Coverage & Payments Fraud

Posted by Angela Sarno on Aug 11, 2020 10:02:00 AM

Mapping the landscape of insurance that businesses require to secure their property, assets, and employees is a massive and complex task. Policies are simultaneously hyper-specific and unintelligible; counsel and executives alike can find the paperwork confusing or obtuse.

Read More

Topics: compliance, payments fraud, insurance

 

PaymentWorks-Logo-Black_600tall

The Business Identity Platform that automates complex payee management processes to:

  • Eliminate the risk of business payments fraud  
  • Reduce cost
  • Ensure compliance

Sign up to be alerted when we publish interesting things

Recent Posts