Three ways to identify and combat vendor fraud
WHITE PAPER |
While trust between leadership and employees is crucial to a successful business, an excess of trust can lead to fraud. In many cases, companies never suspect the employee responsible for fraud because of the employee’s length of service or reputation.
To effectively combat fraud, it is important to understand the various fraud risks your company faces. Vendor fraud is one key category to watch. This type of fraud involves schemes in which the fraudster manipulates a company’s accounts payable and payment systems for illegal personal gain.
This white paper addresses the different types of vendor fraud schemes, how to detect fraudulent activity and the three controls every organization can use to prevent fraud.