In this episode on the AP Now podcast, Mary Schaeffer is joined by Debra R Richardson, an expert on master vendor file issues. They discuss the growing importance of authenticating all information going into the master vendor file as well as any changes made to existing data. Richardson explains how many organizations might think they are strictly domestic but in actually they have global vendors.

Because of the explosion of all different types of fraud (both payment and data) it is critical that every person working in accounts and in accounts payable understand the importance of verifying who they are talking to before sharing vendor data. Sometimes even the most innocuous shred of information will provide a shrewd fraudster that missing kernel of information needed to perpetrate a fraud.

At the end of the podcast she talks about the need to combine phishing training with authentication techniques and internal controls to ensure help desk personnel protect the master vendor file against fraud. AP Now hopes Richardson will return for a future episode so we can explore this issue in greater detail.  

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

Guest: Debra R. Richardson (https://www.debrarrichardson.com/)

Sponsor: Stampli (www.stampli.com/APNow)

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