Payments Fraud and Your Vendor File: Exposing the Risk in Your Process
Credit Hours
1 Hour
Learning Level
Tier 1 and Tier 2
Learning Objectives
- How, exactly, social engineering payments fraud scams succeed
- Key ways your current process can likely be beat by a fraudster
- Questions for your risk team and your insurer regarding your organization’s exposure to these types of payments frauds
Course Description
71% of companies reported they were the target of an attempted or successful payments fraud attack in 2021*. More than three quarters of the time these incidents stemmed from business or vendor email compromise as fraudsters pretended to be someone else – often an existing vendor – in the hopes of changing vendor bank account credentials.
Among procurement professionals, the problem of social engineering payments fraud scams is well known, but the risk is not well understood. With many unknowns, building the processes and investing in the tools to properly combat these frauds is difficult.
Among procurement professionals, the problem of social engineering payments fraud scams is well known, but the risk is not well understood. With many unknowns, building the processes and investing in the tools to properly combat these frauds is difficult.
Event Presenter(s)
Christopher Arehart
SVP and Product Manager, Chubb
Angela Sarno
PaymentWorks
Event Sponsor(s)
Disclaimer
The user acknowledges that the workshops,
handouts, and related course materials contained therein are intended for
educational purposes only and should not be
considered to be legal advice or a
substitute for legal or clinical consultation. These presentations address
issues that are multi-faceted, and the user should not assume that the courses
discuss every law, regulation, or ethical code that may be relevant to the
subject matter. Legal and ethical standards are subject to change, and
it is always prudent to check to see whether a particular law, regulation, or
ethical standard may have changed.
Refunds/Cancellations: NAEP does not offer refunds for On-Demand Library purchases.
Refunds/Cancellations: NAEP does not offer refunds for On-Demand Library purchases.