Protect Your Company Against Payment Fraud (Completed)

Date: Tuesday, March 26, 2019
Instructor: Mary Schaeffer
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs

The crooks are getting smarter. Quite a few understand the banking system and the Internet better than we do. They know the ins and outs and where it is weak. And, they do their research. Many professionals think payment fraud could never happen to their organizations. Unfortunately, the numbers tell a different story. Eventually, every single organization will come into the spotlight of one or more crooks. Without the proper precautions, the fraudsters will succeed. Complicating the issue is the fact that whether we like to admit it or not, the risk is both internal and external.

Alas, the rules continually change as crooks adjust to the fraud protections developed by the business community and find new ways to get their hands on your money. Has your organization taken all the steps it needs to protect itself? Has your strategy been reviewed within the last 12 months? In this session, we’ll address the newest electronic frauds and the protections every organization needs along with reviewing the tactics needed to protect against older types of fraud.

Who Should Attend
Accountants, controllers, accounting managers, auditors (internal and external), Treasurers, CFOs, CEOs, accounts payable professionals, payroll professionals, procure-to-pay professionals, and travel managers.

Topics Covered

  • The types of payment frauds likely to impact your organization
  • Pinpoint seven common myths that often lull an organization
  • Different fraud protection products offered by the banking community
  • How to create the proper controls within your organization
  • How to create a p-card program that will make potential employee fraud almost negligible
  • Best practices are for preventing and detecting p-card, check wire transfer, and ACH fraud

Learning Objectives

  • Identify how new electronic payment frauds work and how to protect your organization
  • Identify the types of payment frauds likely to impact your organization
  • Differentiate seven common myths that often lull an organization into thinking they don't have to take action against payment fraud
  • Evaluate the different fraud protection products offered by the banking community
  • Craft the proper controls within your organization so you can stop employee fraud
  • Create a p-card program that will make potential employee fraud almost negligible
  • Use proper procedures when utilizing payee name positive pay so it provides the most protection
  • Implement best practices are for preventing and detecting p-card, check and ACH fraud

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None

 Chat — Books Support