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

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 employees.

With payment fraud becoming more sophisticated, understanding the latest threats is critical to protecting your organization. 

This webinar will provide key insights into who commits fraud across check, ACH, and P-Card transactions, along with real case studies from fraud investigations. You’ll learn how vendor and billing schemes exploit weak controls, how to detect external versus internal fraud attacks, and the latest electronic payment fraud tactics, including ACH hijacking and social engineering. 

Gain practical strategies for conducting cost-effective fraud risk assessments, identifying critical red flags, and implementing stronger fraud prevention measures, such as segregation of duties and employee awareness training. Equip yourself with the knowledge and tools to detect and prevent fraud before it results in financial losses.

After this webinar attendees will be able to answer:

• Who commits each major type of payment fraud—focusing on the check, ACH, and –P-Card schemes?
• Insight from investigating actual fraudsters
• Vendor/billing schemes that exploit payment process control weaknesses
• Latest electronic payment schemes (ACH hijacking, spear-phishing, social engineering and more)
• Check counterfeiting, forgery, and tampering schemes to be aware of
• How to detect common external payment schemes versus internal attacks?
• Conducting a cost-effective fraud risk assessment of your most commonly used payment methods
• Identify the critical red flags of all forms of check, ACH, and P-card fraud
• Detect payment 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 transfers 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 payment 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 payment fraud.