The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 9/9/2016

Best Practices: B2B Fraud

Prevention

Chris Elmore - AP Automation Expert

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 2 9/9/2016

THIS WORKS BEST….

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The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 3

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

• Automation expert

• 15+ years of experience

• Helped thousands of companies automate their AP process

Meet Our Presenter – Chris Elmore

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 5 9/9/2016

I have a website.

www.apautomationnews.com

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 6 9/9/2016

Big Nerd!

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 7 9/9/2016

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Introduction

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Distribution of Losses

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Occupational Fraud

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Occupational Fraud

• Misappropriation

• Corruption

• Financial Statement

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

How Occupational Fraud Is Committed

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Asset Misappropriation

Sub-Schemes

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Duration of Fraud Schemes

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Initial Detection of Occupational Frauds

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Source of Tips

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Size of Organization

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Perpetrator’s Position

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Perpetrator’s Position

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Perpetrator’s Gender

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Perpetrator’s Age

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Perpetrator’s Education Level

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Perpetrator’s Employment History

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Behavioral Red Flags Displayed by Perpetrators

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Criminal Prosecutions

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Recovery of Losses

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

PROFILE

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 29 9/9/2016

Profile

• Living Above Means

• No Priors

• College Educated

• 31 – 45

• Male

• Employee

• Small to Medium

Company

• 13 Months

• $125K

• Check

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 30

You tell me!

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 32 9/9/2016

MEET CHARLENE CORLEY

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

$998,798

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

$445,640 for shipping $8.75 elbow pipe

$492,096 for shipping $10.99 machine thread plug

$403,436 for shipping 6 machine screws worth

$59.94

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 35 9/9/2016

MEET KENNETH JOSEPH WILD II

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 37 9/9/2016

THE PROBLEM?

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

2014 AFP Payments Fraud and Control Survey

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

2014 AFP Payments Fraud and Control Survey

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 41 9/9/2016

DETECT A PC FOR

PAYMENT ORIGINATION

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 42 9/9/2016

SECURE BANK CONNECTIONS

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 43 9/9/2016

RESTRICT NETWORK

ACCESS FOR MOBILE

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 44 9/9/2016

RESTRICT PAYMENTS TO

ONLY COMPANY LAPTOPS

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 45 9/9/2016

UPGRADE AUTHENTICATION

PROCEDURES

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DISASTER RECOVERY

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LAYERS OF SECURITY

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REVIEW INTERNAL CONTROLS

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DAILY RECONCILIATIONS

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

2014 AFP Payments Fraud and Control Survey

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 51 9/9/2016

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 52 9/9/2016

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 53 9/9/2016

PAPERLESS?

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 54

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 55 9/9/2016

THE POWER OF THE

NETWORK

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 56 9/9/2016

HOW DOES IT WORK?

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

Accounting System

ACH Network

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

1. Vendors’ Preference

2. Software

3. Clearing Account

4. Services

Network Make Up (4)

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

2014 AFP Payments Fraud and Control Survey

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

2014 AFP Payments Fraud and Control Survey

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 61 9/9/2016

5 WAYS TO PREVENT FRAUD

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 62 9/9/2016

1. No Paper Without Positive Pay

2. Daily Reconciliations

3. Vetted Vendors

4. Authentication

5. Proactive Tracking

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The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:

The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 9/9/2016

Visit our booth to learn more!