Protecting against fraud has become a top priority for many. Developing a Fraud Protection Strategy, especially around your payments, is not difficult to do. This 3-pronged approach will help every organization stop frauds, especially payment fraud, before the money leaves their bank account. #Fraud, and more specifically #paymentfraud, can be devastating to an organization. That’s why developing a fraud protection strategy is so important.

Fraud, whether perpetrated by an employee or a criminal not associated with a company can be devastating not only financially but also to the professional self-esteem to the person who feel for the scam. In a few cases the fraud has been so bad, the company has been forced into bankruptcy. The unfortunate thing in many, many of these cases, is the frauds could have been prevented in the company involved had employed the tactics discussed in this piece. A strong fraud protection strategy is critical for every organization – regardless of size.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Defending against payment scams has become a top priority for many. Creating a Fraud Protection Strategy, especially around your payment process, is not hard to do. This 3-pronged strategy will help every company stop scams, especially payment fraud, before the money leaves their bank account.

Link to Accounts Payable Movies [Fraud in the Real World]https://youtu.be/dec6bkMhmrE

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