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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: 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….
2
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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The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 9
Distribution of Losses
The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 10 9/9/2016
Occupational Fraud
The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 11 9/9/2016
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
The Accounts Payable & Procure-To-Pay Conference & Expo is produced by:
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
The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 46 9/9/2016
DISASTER RECOVERY
The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 47 9/9/2016
LAYERS OF SECURITY
The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 48 9/9/2016
REVIEW INTERNAL CONTROLS
The Accounts Payable & Procure-To-Pay Conference & Expo is produced by: 49 9/9/2016
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!
