Payments Fraud: Detect and Prevent Check ACH and P-Card Schemes

This training program will examine vendor/billing schemes that exploit payments process control weaknesses; latest electronic payments schemes (ACH hijacking, spear-phishing, social engineering); check counterfeiting, forgery and tampering schemes to be aware of; and, detecting common external payments schemes versus internal attacks.

• Who commits each major type of payments fraud—focusing on check, ACH and –P-Card schemes
• Insight from investigating actual fraudsters
• Vendor/billing schemes that exploit payments process control weaknesses
• Latest electronic payments schemes (ACH hijacking, spear-phishing, social engineering and more)
• Check counterfeiting, forgery and tampering schemes to be aware of
• How to detect common external payments schemes versus internal attacks
• Conducting a cost-effective fraud risk assessment of your most commonly used payments methods
• Identify the critical red flags of all forms of check, ACH and P-card fraud
• Detect payments fraud before material financial damage occurs
• Obtain optimal payment fraud prevention tools from your financial institution
• Recommend better payment fraud control structure—including segregation of duties, employee background checks and employee awareness training

Until recently, paying vendors was a simple matter of processing an invoice and issuing a check. No longer. Ongoing advances in technology, credit card, purchasing card (P-card), ACH and wire transfer require advanced payment techniques. And with that trend, unfortunately, are coming new opportunities for fraudsters to steal from your organization.

This is a fast-changing threat matrix. The Association for Financial Professionals (AFP) estimates that over 73% of all organizations are targets of payments fraud. While not all attacks result in fraud-related losses, this statistic alone confirms that criminals are as aggressive as ever in attempting to misappropriate funds via the various forms of payments fraud.

This webinar will focus on how all this means that organizations must stay informed about new and existing payment schemes on an ongoing basis. The risk of failing to do so is loss of massive amounts of customer credit card data, exposure to new forms of check fraud and costly new techniques for having your ACH and wire transfer account(s) hijacked by sophisticated cyber-criminals as well as your own employees.

• CPAs
• Financial services professionals
• Senior financial executives
• Internal auditors
• AP managers
• Treasury staff
• Operations managers
• Controllers, CFOs
• Treasurers
• Compliance officers
• Security and risk managers

Peter Goldmann is president of FraudAware LLC, the publisher of White-Collar Crime Fighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. The newsletter is in its 15th year of publication under Peter's leadership. Peter is the author of “Fraud in the Markets: Why it Happens and How to Fight It”, published by John Wiley & Sons, as well as four other anti-fraud books. Peter also developed FraudAware, the leading employee fraud awareness training program. A user-friendly learning tool, FraudAware uses workshop, Webinar and E-Learning formats to educate employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct. In addition, Peter has conducted numerous on-site fraud detection and prevention workshops for internal auditors, attorneys, HR executives and compliance officers at Fortune 500 companies and large not-for profit organizations. He has also been a guest lecturer for college accounting and auditing courses. Peter has 30 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a Certified Fraud Examiner. Peter holds a Bachelor's degree from the University of Michigan and a Master's from the London School of Economics (CFE).