--- title: PaymentWorks Blog | compliance description: compliance | --- [![PaymentWorks](https://blog.paymentworks.com/hubfs/PaymentWorks_February2020/images/logo.svg)](https://www.paymentworks.com/) - How it Works - - [Overview](https://www.paymentworks.com/how-it-works) - [Why it Matters](https://www.paymentworks.com/why-it-matters) - - For Payers - See how they do it at: - [University of Kentucky](https://www.paymentworks.com/case-studies/kentucky/) - [Hackensack Meridian](https://www.paymentworks.com/case-studies/hackensack-meridian/) - [Johns Hopkins](https://www.paymentworks.com/case-studies/johns-hopkins/) - [Frequently Asked Questions](https://www.paymentworks.com/faq/payers/) - [Request a Demo](https://www.paymentworks.com/schedule-demo) - For Payees - [Frequently Asked Questions](https://www.paymentworks.com/faq/payees/) - [Join PaymentWorks](https://www.paymentworks.com/accounts/register-payee/) - About - - [About Us](https://www.paymentworks.com/about-us/paymentworks/) - [Our Partners](https://www.paymentworks.com/about-us/partners/) - [Work Here](https://www.paymentworks.com/about-us/work-here/) - [Blog](https://blog.paymentworks.com/) - [Press](https://news.paymentworks.com/press) - [Refer A Lead](https://share.hsforms.com/1NZzs6_82R52Z5GNpdHp4tA49idv) - Contact - - - - - Sales - [info@paymentworks.com](mailto:info@paymentworks.com) - - Support - [support@paymentworks.com](mailto:support@paymentworks.com) - - - Press - [press@paymentworks.com](mailto:press@paymentworks.com) - - HQ - [info@paymentworks.com](mailto:info@paymentworks.com) - 51 Sawyer Road Suite 310 Waltham, MA 02453 - [Sign In](https://www.paymentworks.com/accounts/login/) [Payees Join Here](https://www.paymentworks.com/accounts/register-payee/) - [Sign In](https://www.paymentworks.com/accounts/login/) - [Payees Join Here](https://www.paymentworks.com/accounts/register-payee/) ![banner-image](https://blog.paymentworks.com/hubfs/PaymentWorks_March2020_Blair/images/paymentworks-hubspot-banner_v2-04.png) ## PaymentWorks Blog ## [Fraud Never Sleeps](https://blog.paymentworks.com/fraud-never-sleeps) Posted by [Alex Wong](https://blog.paymentworks.com/author/alex-wong) on Sep 7, 2022, 10:01:00 AM - [Tweet](https://twitter.com/share) [![panel discussion with JP Morgan, Chubb and PaymentWorks](https://blog.paymentworks.com/hubfs/IMG_1209.jpeg)](https://blog.paymentworks.com/fraud-never-sleeps) J.P. Morgan, Chubb Insurance and PaymentWorks recently came together for an enlightening panel discussion on the state of fraud today. The bad news? Fraud isn’t going away – in fact, the FBI tells us it’s a[$43 billion dollar problem](https://www.ic3.gov/Media/PDF/AnnualReport/2021_IC3Report.pdf). The good news: There are tangible things you can do to protect yourself and your organization. **Here are my top 3 takeaways from the discussion that will help you stay vigilant and prevent a social engineering fraud from costing your business millions.  **   [Read More](https://blog.paymentworks.com/fraud-never-sleeps) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/fraud-never-sleeps#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [payments fraud](https://blog.paymentworks.com/tag/payments-fraud), [insurance](https://blog.paymentworks.com/tag/insurance), [ACH](https://blog.paymentworks.com/tag/ach), [business payments](https://blog.paymentworks.com/tag/business-payments), [banks](https://blog.paymentworks.com/tag/banks) ## [Vendoring 101: Live Event Recap](https://blog.paymentworks.com/vendoring-101-live-event-recap) Posted by [Angela Sarno](https://blog.paymentworks.com/author/angela-sarno) on Aug 24, 2022, 11:03:37 AM - [Tweet](https://twitter.com/share) [![Debra Richardson headshot](https://blog.paymentworks.com/hubfs/DeborahRichardson-400x400.jpg)](https://blog.paymentworks.com/vendoring-101-live-event-recap)   ## **Vendor Onboarding 101: How to Build a More Secure and Compliant Process** ## ***Top 3 Take-Aways from Our Live Event with AP Guru, Debra R. Richardson*** We recently had the pleasure of talking to Debra R. Richardson, LLC., who is using her 20+ years of experience in AP, AR, general ledger and financial reporting for Fortune 500 companies to help AP teams implement authentication **![DeborahRichardson-400x400](https://blog.paymentworks.com/hs-fs/hubfs/DeborahRichardson-400x400.jpg?width=263&name=DeborahRichardson-400x400.jpg) ****techniques, internal controls and best practices to prevent fraud in the vendor master file. She also has a weekly blog and hosts the podcast: “[Putting the AP in hAPpy](https://www.debrarrichardson.com/podcasts)”.****** Thinking about moving to automation, but haven’t made the jump yet? Here are 3 actionable items that you can implement today to mitigate the risks associated with fraud and compliance and mistakes! [Read More](https://blog.paymentworks.com/vendoring-101-live-event-recap) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/vendoring-101-live-event-recap#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [AP](https://blog.paymentworks.com/tag/ap), [ACH](https://blog.paymentworks.com/tag/ach), [risk](https://blog.paymentworks.com/tag/risk), [social engineering fraud](https://blog.paymentworks.com/tag/social-engineering-fraud), [vendor management](https://blog.paymentworks.com/tag/vendor-management) ## [The Risk and the Reward](https://blog.paymentworks.com/the-risk-the-reward) Posted by [Angela Sarno](https://blog.paymentworks.com/author/angela-sarno) on Nov 9, 2021, 12:16:08 PM - [Tweet](https://twitter.com/share) [![Risky Business Ep 10 art with Kristin Drobnis](https://blog.paymentworks.com/hubfs/PaymentWorks%20Presents-Episode10-Kristen%20Drobnis-LInkedIn-300.jpg)](https://blog.paymentworks.com/the-risk-the-reward) *Author note: I had the pleasure of meeting Kristen Drobnis during this past summer.  She was gracious with her time and passionate about risk.  This combination intrigued me so much I immediately asked her if she would be on our podcast.  This podcast and blog are taken from our interview in August 2021.* As the Chief Risk and Privacy Officer for Commonwealth Financial Network, one of the largest privately-held broker dealers in the United States, Kristen Drobnis understands risk as well as anybody. ![PaymentWorks Presents-Episode10-Kristen Drobnis-LInkedIn-300](https://blog.paymentworks.com/hs-fs/hubfs/PaymentWorks%20Presents-Episode10-Kristen%20Drobnis-LInkedIn-300.jpg?width=582&name=PaymentWorks%20Presents-Episode10-Kristen%20Drobnis-LInkedIn-300.jpg) And while the word ‘risk’ itself conjures up images of theft, fraud and other treacherous topics, Kristen brings a calm and measured approach to this fascinating industry. PaymentWorks sat down with Kristen to discuss many topics, including why she loves her job, how to deal with fraudsters intent on playing the long game, and what element of dealing with risk keeps her up at night. You can listen to the entire podcast [here](https://podcasts.apple.com/us/podcast/paymentworks-presents-risky-business/id1580993090). [Read More](https://blog.paymentworks.com/the-risk-the-reward) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/the-risk-the-reward#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [podcast](https://blog.paymentworks.com/tag/podcast), [vendor master](https://blog.paymentworks.com/tag/vendor-master), [risk](https://blog.paymentworks.com/tag/risk) ## [The Benefit of Investing in a Clean Vendor Master: A Calculation](https://blog.paymentworks.com/how-to-calculate-the-benefit-of-investing-in-a-clean-vendor-master) Posted by [Angela Sarno](https://blog.paymentworks.com/author/angela-sarno) on Sep 29, 2021, 10:02:00 AM - [Tweet](https://twitter.com/share) [![calculate risk exposure AP spend times .059%](https://blog.paymentworks.com/hubfs/Screen%20Shot%202021-09-28%20at%203.22.55%20PM.png)](https://blog.paymentworks.com/how-to-calculate-the-benefit-of-investing-in-a-clean-vendor-master) All day long we hear from customers and prospects alike that their vendor master data is ‘a mess’, ‘out of date’ and ‘full of duplicates’.  We have published in the past about the hidden ways your vendor master is costing your organization with both [fraud risk](https://blog.paymentworks.com/5-ways-your-vendor-master-is-costing-you-money-mistakes-fraud-edition) and [compliance issues,](https://blog.paymentworks.com/five-ways-your-vendor-master-is-costing-you-money-compliance-edition) but we understand that many organizations find it to be a challenge to quantify those risks in dollar terms when working towards making an investment in automation and clean up.  We get it, it can be overwhelming to nail down the myriad ways a messy vendor is costing your organization.  We’ve spoken with countless customers and prospects and gathered for you these three factors you can, and should, consider when creating your cost/benefit analysis. [Read More](https://blog.paymentworks.com/how-to-calculate-the-benefit-of-investing-in-a-clean-vendor-master) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/how-to-calculate-the-benefit-of-investing-in-a-clean-vendor-master#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [payments fraud](https://blog.paymentworks.com/tag/payments-fraud), [vendor master](https://blog.paymentworks.com/tag/vendor-master) ## [Fraudsters are targeting AP and Treasury. Are you next?](https://blog.paymentworks.com/fraudsters-are-targeting-ap-and-treasury.-are-you-next) Posted by [Angela Sarno](https://blog.paymentworks.com/author/angela-sarno) on Aug 3, 2021, 10:01:00 AM - [Tweet](https://twitter.com/share) [![PaymentWorks payments fraud statistics. And some sheep.](https://blog.paymentworks.com/hubfs/PaymentWorks%20Payments%20Fraud%20Infographic.png)](https://blog.paymentworks.com/fraudsters-are-targeting-ap-and-treasury.-are-you-next) ## "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](https://blog.paymentworks.com/fraudsters-are-targeting-ap-and-treasury.-are-you-next) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/fraudsters-are-targeting-ap-and-treasury.-are-you-next#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [payments fraud](https://blog.paymentworks.com/tag/payments-fraud), [AP](https://blog.paymentworks.com/tag/ap), [ACH](https://blog.paymentworks.com/tag/ach), [vendor master](https://blog.paymentworks.com/tag/vendor-master), [risk](https://blog.paymentworks.com/tag/risk) ## [Covid-19 and the Acceleration of Identity](https://blog.paymentworks.com/covid-19-and-the-acceleration-of-identity) Posted by [Taylor Nemeth](https://blog.paymentworks.com/author/taylor-nemeth) on Jul 21, 2021, 9:50:00 AM - [Tweet](https://twitter.com/share) [![Red umbrella in a sea of white umbrellas](https://blog.paymentworks.com/hubfs/shutterstock_726137065.jpg)](https://blog.paymentworks.com/covid-19-and-the-acceleration-of-identity) Hopefully, you have already read the highlights from[the first part](https://blog.paymentworks.com/identification-authentication-and-authorization-solving-the-identity-puzzle)of our absorbing interview with Dave Birch. (You can listen to the podcast [here](https://soundcloud.com/user-339299221-113829161/risky-business-ep-6-david-birch).) And if you have then by now you know that as one of the industry's top money experts he [writes books](https://www.dgwbirch.com/words/books/)and [advises companies](https://chyp.com/), among his many endeavors. Birch's name and reputation is [well established](https://www.ted.com/speakers/david_birch) in the field of identity. ![shutterstock_726137065](https://blog.paymentworks.com/hs-fs/hubfs/shutterstock_726137065.jpg?width=408&name=shutterstock_726137065.jpg) 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](https://blog.paymentworks.com/covid-19-and-the-acceleration-of-identity) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/covid-19-and-the-acceleration-of-identity#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [podcast](https://blog.paymentworks.com/tag/podcast), [risk](https://blog.paymentworks.com/tag/risk), [identity](https://blog.paymentworks.com/tag/identity) ## [Bolstering the Team](https://blog.paymentworks.com/bolstering-the-team) Posted by [PaymentWorks Staff](https://blog.paymentworks.com/author/paymentworks-staff) on May 12, 2021, 1:30:57 PM - [Tweet](https://twitter.com/share) [![Auletta and Hynes headshots](https://blog.paymentworks.com/hubfs/5.11.21%20Welcome%20to%20the%20Team%20graphic-1-1.jpg)](https://blog.paymentworks.com/bolstering-the-team)   [Read More](https://blog.paymentworks.com/bolstering-the-team) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/bolstering-the-team#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [payments fraud](https://blog.paymentworks.com/tag/payments-fraud), [procurement](https://blog.paymentworks.com/tag/procurement), [vendor master](https://blog.paymentworks.com/tag/vendor-master), [risk](https://blog.paymentworks.com/tag/risk) ## [Third Party Risk Management: A Primer With Yakut Akman](https://blog.paymentworks.com/third-party-risk-management-a-primer-with-yakut-akman) Posted by [Taylor Nemeth](https://blog.paymentworks.com/author/taylor-nemeth) on Feb 2, 2021, 10:01:00 AM - [Tweet](https://twitter.com/share) [![Yakut Akman headshot](https://blog.paymentworks.com/hubfs/yakut%20akman-2-1.jpg)](https://blog.paymentworks.com/third-party-risk-management-a-primer-with-yakut-akman)     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](https://blog.paymentworks.com/hs-fs/hubfs/yakut%20akman%20headshot.jpeg?width=300&name=yakut%20akman%20headshot.jpeg)​ She recently joined us for our Risky Business Podcast.  Excerpts from that conversation are below.  You can listen to the entire interview [here](https://soundcloud.com/user-339299221-113829161/episode-5). *[Ms. Akman](https://www.linkedin.com/in/yakut-akman-aa5687/)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](https://blog.paymentworks.com/third-party-risk-management-a-primer-with-yakut-akman) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/third-party-risk-management-a-primer-with-yakut-akman#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [podcast](https://blog.paymentworks.com/tag/podcast), [risk](https://blog.paymentworks.com/tag/risk) ## [Five Ways Your Vendor Master is Costing You Money- Compliance Edition](https://blog.paymentworks.com/five-ways-your-vendor-master-is-costing-you-money-compliance-edition) Posted by [Angela Sarno](https://blog.paymentworks.com/author/angela-sarno) on Sep 29, 2020, 10:15:00 AM - [Tweet](https://twitter.com/share) [![throwing money away?](https://blog.paymentworks.com/hubfs/linkedin%20wasted%20money.jpg)](https://blog.paymentworks.com/five-ways-your-vendor-master-is-costing-you-money-compliance-edition) 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!](https://www.jdsupra.com/legalnews/deutsche-bank-settles-two-ofac-cases-19216/)), but there is also the world of internal compliance- much of it shifting with stunning regularity.  ![linkedin wasted money](https://blog.paymentworks.com/hs-fs/hubfs/linkedin%20wasted%20money.jpg?width=1200&name=linkedin%20wasted%20money.jpg) [Read More](https://blog.paymentworks.com/five-ways-your-vendor-master-is-costing-you-money-compliance-edition) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/five-ways-your-vendor-master-is-costing-you-money-compliance-edition#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [AP](https://blog.paymentworks.com/tag/ap), [insurance](https://blog.paymentworks.com/tag/insurance), [vendor master](https://blog.paymentworks.com/tag/vendor-master) ## [Treasury in Higher Ed: Protecting and Serving](https://blog.paymentworks.com/treasury-in-higher-ed) Posted by [Taylor Nemeth](https://blog.paymentworks.com/author/taylor-nemeth) on Sep 22, 2020, 9:58:00 AM - [Tweet](https://twitter.com/share) [![Valerie Van Vlack, Texas State University](https://blog.paymentworks.com/hubfs/2017-Valarie-Van-Vlack_2-1.png)](https://blog.paymentworks.com/treasury-in-higher-ed)   *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.](https://podcasts.apple.com/us/podcast/risky-business-treasury-in-higher-ed-protect-and-serve/id1580993090?i=1000531938844)* [Read More](https://blog.paymentworks.com/treasury-in-higher-ed) 0 Comments [Click here to read/write comments](https://blog.paymentworks.com/treasury-in-higher-ed#comments-listing) Topics: [compliance](https://blog.paymentworks.com/tag/compliance), [higher education](https://blog.paymentworks.com/tag/higher-education), [podcast](https://blog.paymentworks.com/tag/podcast), [#paymentsfraud](https://blog.paymentworks.com/tag/paymentsfraud) [All posts](https://blog.paymentworks.com/all) [Next](https://blog.paymentworks.com/tag/compliance/page/2) ![PaymentWorks-Logo-Black_600tall](https://blog.paymentworks.com/hs-fs/hubfs/Branding/Logos/PaymentWorks-Logo-Black_600tall.jpg?width=272&name=PaymentWorks-Logo-Black_600tall.jpg) Digital Supplier Onboarding for Secure, Compliant, and Optimized Business Payments. - **Eradicate** Fraud - **Ensure** Compliance - **Eliminate** Paper ### Sign up to be alerted when we publish interesting things ### Recent Posts ### Posts by Tag - [payments fraud (28)](https://blog.paymentworks.com/tag/payments-fraud) - [risk (25)](https://blog.paymentworks.com/tag/risk) - [vendor master (19)](https://blog.paymentworks.com/tag/vendor-master) - [insurance (13)](https://blog.paymentworks.com/tag/insurance) - [ACH (12)](https://blog.paymentworks.com/tag/ach) - [AP (12)](https://blog.paymentworks.com/tag/ap) - [compliance (12)](https://blog.paymentworks.com/tag/compliance) - [podcast (8)](https://blog.paymentworks.com/tag/podcast) - [procurement (6)](https://blog.paymentworks.com/tag/procurement) - [social engineering fraud (6)](https://blog.paymentworks.com/tag/social-engineering-fraud) - [business payments (5)](https://blog.paymentworks.com/tag/business-payments) - [higher education (5)](https://blog.paymentworks.com/tag/higher-education) - [Cyber Security (3)](https://blog.paymentworks.com/tag/cyber-security) - [banks (2)](https://blog.paymentworks.com/tag/banks) - [identity (2)](https://blog.paymentworks.com/tag/identity) - [supply chain (2)](https://blog.paymentworks.com/tag/supply-chain) - [tips from the frontlines (2)](https://blog.paymentworks.com/tag/tips-from-the-frontlines) - [#paymentsfraud (1)](https://blog.paymentworks.com/tag/paymentsfraud) - [Insider (1)](https://blog.paymentworks.com/tag/insider) - [vendor management (1)](https://blog.paymentworks.com/tag/vendor-management) See all #### How it Works [Overview](https://www.paymentworks.com/how-it-works) [Why it Matters](https://www.paymentworks.com/why-it-matters) #### For Payers - See how they do it at: [*Hackensack Meridian*](https://www.paymentworks.com/case-studies/hackensack-meridian/) [*University of Kentucky*](https://www.paymentworks.com/case-studies/kentucky/) [*Johns Hopkins Enterprises*](https://www.paymentworks.com/case-studies/johns-hopkins/) - [Frequently Asked Questions](https://www.paymentworks.com/faq/payers/) - [Request a Demo](https://www.paymentworks.com/schedule-demo) #### For Payees - [Frequently Asked Questions](https://www.paymentworks.com/faq/payees/) - [Join PaymentWorks](https://www.paymentworks.com/accounts/register-payee/) #### About [About Us](https://www.paymentworks.com/about-us/paymentworks/) [Our Partners](https://www.paymentworks.com/about-us/partners/) [Work Here](https://www.paymentworks.com/about-us/work-here/) [Press](https://news.paymentworks.com/press) #### Contact Us - Sales [info@paymentworks.com](mailto:info@paymentworks.com) - Support [support@paymentworks.com](mailto:support@paymentworks.com) - Press [press@paymentworks.com](mailto:press@paymentworks.com) - HQ [info@paymentworks.com](mailto:info@paymentworks.com) ##### 51 Sawyer Road Suite 310 Waltham, MA 02453 © 2014 - 2021 PaymentWorks, Inc. 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