Three Proactive Measures To Prevent Accounts Payable Fraud
ISACA, Wednesday, November 22,2023
Accounts payable (AP) fraud is one of those threats that most people inside the four walls of your organization aren't aware of. However, that doesn't dampen its severity.
It's a huge threat that requires a strategic and disciplined management approach. That starts with understanding the different forms of AP fraud:
- Invoice fraud.
- Ghost vendors and shell companies.
- Unauthorized charges
- Employee collusion
These are the main types of AP fraud. However, it's important to understand that there are always innovative methods being created by perpetrators. The key is to remain vigilant and proactive.