Payment Fraud: Detect and Prevent It from Wreaking Havoc FLEXCAST

Overview

Criminals are especially devious when it comes to payment fraud enabled by technology. They study the banking system and processes, technology and your company. They know the ins and outs and where there are weaknesses. And, they do their research, marrying their knowledge with social media to devise ways to defraud your organization in ways never dreamt of in the past. 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. What’s more; the old fraud aren’t going away. Companies need to be vigilant on all fronts. Has your organization taken all the steps it needs to protect itself? Has your strategy been reviewed within the last 12 months? In this course, we’ll address the newest electronic payment frauds and the protections every organization needs along with reviewing the tactics needed to protect against older types of fraud.

Highlights

The newest electronic payment frauds and the protections every organization needs. The tactics needed to protect against older types of fraud.

Prerequisites

None.

Designed For

CPAs and other accounting professionals.

Objectives

Understand how new electronic payment frauds work and how to protect your organization. Identify the types of payment frauds likely to impact your organization. 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.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.