We know, we know: you’re probably tired of thinking about fraud - but it isn’t going anywhere. After a dip in payment-related fraud from 2009 to 2013, it’s been steadily on the rise. JP Morgan’s 2017 Payments Fraud and Control Survey reported the following alarming statistics:
Businesses everywhere must tighten the reins to protect their own customers, but sometimes they forget about themselves. Accounts payable (A/P) departments are exposed to risk every day, as they attempt to process payment for legitimate (and fraudulent) invoices. So what can A/P do to protect itself from this looming threat?