This session of Accounts Payable Technology Week focuses on Fraud, and perhaps more specifically, fraud that sometimes happens internally. It is one of five parts of a limited series focused on fraud in the #accountspayable function.

Fraud protection not only means fraud prevention it also includes fraud detection. While ideally the detection occurs before the funds go out the door, sadly, it is often only discovered after multiple episodes.

This is Episode 103 of the AP Now podcast.

Accounts payable fraud in the form of embezzlement is sometimes referred to as pink collar crime. This is because it is the one type of crime that is committed more frequently by women than men. But that is not to say that men don’t embezzle. They absolutely do. As Kelly Paxton likes to say, pink collar crime is about the position not the gender She explains in more detail during this session. Our guest on this episode of the AP Now podcast is Kelly Paxton, a certified fraud examiner with years of experience. She’s recently written a book on the topic.

Book link: https://greatwomeninfraud.com/#embezzlement

Fraud protection in an organization should be advanced as it happens. Whether you call it corporate fraud or internal fraud or employee fraud, occupational fraud hurts not only the reputation of your organization, but the organization’s bottom line.

During the session, Paxton shares insights, tips and advice for those looking to protect themselves. She also introduced the concepts of fraud hashtags and a fraud therapist. Paxton demonstrates her recommendations through real life examples, cases where companies have been defrauded by employees through all sorts of mechanisms. She reminds the audience that “trust is not an internal control,” as too many companies have learned the hard way.

Learn more about AP Now: https://www.ap-now.com

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Host: Mary Schaeffer (https://www.ap-now.com/)

Guest: Kelly Paxton (https://pinkcollarcrime.com/)

Credit: Music: https://www.purple-planet.com