To protect against #fraud, all companies should develop a Fraud Protection Strategy that includes these 5-Steps. It is critical that every Accounts Payable team integrate these tools. #Fraudprotection has become increasingly important as crooks everywhere innovate and find new ways to defraud innocent companies, often focusing on the #accountspayable team, for that is where the money is. Of course, #treasury also comes under attack. While #fraudprevention is ideal, sometimes #frauddetection is what comes into play after the fact.

Criminals, often operating in other countries, study their targets and with increasing accuracy are able to pinpoint their weaknesses. To thwart them, you must develop a fraud protection strategy. This 5-step plan any company can use will help. It is a great learning tool for those managing the accounts payable function.

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Link to Sound Bite #2 on Separation of Duties in Accounts Payable

Link to Sound Bite #5 on Being a Control Freak on Data Entry in Accounts Payable

Link to Sound Bite #9 on Invoice Receiving Best Practices:

Link to Episode #77 on Using Excel to Identify Duplicate Vendors: https://youtu.be/K7GDuB8hJx8

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