Payment fraud is a significant risk for organizations, particularly within accounts payable.
Fraudulent activity can take many forms, including fake invoices, vendor impersonation, unauthorized payments, and internal collusion. Left unchecked, these activities can result in financial loss, regulatory issues, and reputational harm. This session provides a practical guide to recognizing and preventing payment fraud.
The course begins by outlining the types of payment fraud most commonly encountered in AP. Participants will learn how fraudsters operate, including common tactics, schemes, and vulnerabilities. Real-world case studies illustrate how organizations fell victim to fraud and what could have been done to prevent it.
Next, the session focuses on red flags warning signs that a transaction or vendor may be suspicious. Participants will explore indicators such as unusual vendor addresses, last-minute payment requests, duplicate invoices, discrepancies between purchase orders and invoices, and inconsistent payment patterns. We'll also discuss how internal vulnerabilities, such as weak approval processes or lack of segregation of duties, increase fraud risk.
Practical controls and preventative measures are then covered. Participants will learn strategies for verification, monitoring, and audit procedures that help detect and prevent fraudulent payments. We'll review best practices for internal communication, escalation, and incident response, ensuring that organizations can act quickly if fraud is suspected.
Finally, the course addresses creating a culture of awareness and accountability within finance teams. Regular training, clear procedures, and vigilance are key to minimizing exposure and protecting company assets. By the end of the session, participants will be equipped with practical tools and knowledge to identify, prevent, and respond to payment fraud in AP, keeping their organization secure.
Why should you Attend:
Fraud in accounts payable can be costly and disruptive, but many teams are unprepared to detect or prevent it. From phishing emails and fake invoices to vendor impersonation and internal collusion, threats can come from multiple directions. Without proactive controls, organizations may discover fraud only after significant financial and operational impact.
This session equips finance professionals with actionable insights to recognize warning signs of payment fraud. You'll learn common red flags, including unusual vendor details, last-minute changes, inconsistent documentation, and unexpected payment requests. The course also explores the role of segregation of duties, approval workflows, and verification procedures in minimizing fraud risk.
Participants will see practical examples of real-world AP fraud schemes, understand the vulnerabilities that allowed them to occur, and learn strategies to prevent similar incidents. The session emphasizes a proactive, risk-aware mindset, enabling teams to protect company assets while maintaining efficient operations.
By the end of the course, attendees will have a toolkit of fraud detection techniques, control measures, and response strategies to safeguard their organization's payables.
Areas Covered in the Session:
