White Paper
Looking Out For Payroll And Vendor Fraud: A Financial Institution’s Guide
Protecting Business Accounts from Payment Tampering, Redirection, Business Email Compromise, Payroll and Vendor Fraud
Surviving a pandemic was hard enough. Now, businesses must also fend off sustained internal and external threats from vendor, payroll fraud, and business email compromise attacks.
According to the Association of Certified Fraud Examiners’ “Report to the Nations,” U.S. businesses lose an average of 5% of their gross revenues to fraud. Private companies and small businesses rank highest in occupational fraud frequency at 42% compared to large corporations, government and non-profits. Above all else, the greatest contributing factors are a lack of internal controls and assistance from their financial institution partners.
A new report by Advanced Fraud Solutions, Looking Out for Payroll and Vendor Fraud, explores the latest fraud threats impacting businesses, and how financial institutions can better protect their business accounts. To learn how, download the report.
What You’ll Learn
- New types of new and evolving check fraud tactics that are used to scam a company, or its employees, clients or associates and ways to spot them;
- Best practices for financial institutions and businesses to mitigate the risks of payments threats proactively and continuously; and,
- How AFS Positive Pay can help businesses and financial institutions interdict check and ACH fraud before disbursing payments.
- TrueChecks® — the industry’s largest check fraud database and leading check fraud prevention solution — can help mitigate check fraud.
Download the White Paper
