Accounts Payable Payment (ACH, Check and Card) Fraud, Risk and Risk Mitigation

Why Should You Attend:

Internal fraud is has been around long before Sarbanes-Oxley and will be with us when we retire. According to the Association of Certified Fraud Examiners (ACFE), it is estimated that 5% of all revenue is lost to occupational fraud every year. Fraud is not completely preventable but there are steps you can take to systemically prevent and detect fraud on an ongoing basis.

This webinar will discuss several key areas to investigate, how to uncover fraud, and put a plan in place to prevent it going forward. It will cover duplicate payments where a simple quarterly scan can uncover potential issues. By identifying some strategic areas to review, you can educate your staff on what to look for and modify some applications, either internal or vendor developed, to identify potential hazards. With these two steps alone, you may be able to pinpoint leakages that otherwise may go unnoticed.

Instructor will also discuss abnormal payment volumes, check /wire amounts, addresses, and the like. These steps can be taken to monitor, detect, and mitigate fraud in accounts payable.

Areas Covered in the Webinar:

• Data gathering
• Establishing the scope and objectives
• Assessing your risk and resources
• Quality of policies, procedures, and limits
• Risk assessment for specific payment types
• Specific incidences to research
• Management approach
• Summary

Who Will Benefit:

• Accounts Payable Managers
• Payments professionals
• Operations managers
• Cash management product and sales staff
• Treasury managers
• Commercial bankers
• Corporate treasury professionals
• Payments network providers
• Payments processors
• Any corporation that pays bills
• Mid-sized to large corporations

Ray Graber
President, Graber Associates LLC

Ray Graber has a deep and thorough understanding of banking, technology, and finance. His business experience includes banking technology research and consulting at TowerGroup, best practices internet security, policies, and procedures at FleetBoston Financial, wire transfer operations and product launches at Citibank and BankBoston, and treasury operations for a $325 million public company.

Mr. Graber was an adjunct professor at the Carroll School of Management at Boston College where he taught three graduate-level courses: E-Banking, the MBA Leadership Workshop, and Corporate Finance. Previously, he taught the Financial Management of Commercial Banks in the Boston College Carroll School of Management Masters of Finance Program and Working Capital Management and Cash Management at the Bentley College Graduate Business Program.

Ray holds a Bachelor of Arts degree in Mathematics and an MBA in Finance and MIS, both from Boston College.

Follow us :