This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
02/16/2023
Incoming Payments Fraud Poses ‘Silent Threat’ to Bottom Lines
PYMNTS
Put up $2, and you can score $100 million. Incoming payments are the new attack vector.
And as nsKnox Chief Operating Officer Nithai Barzam and Ansys Corporate Controller Bob Bonacci told PYMNTS' Karen Webster, accounts receivable departments are especially vulnerable to financial fraud.
First thing’s first. Payments fraud, of course, runs both ways: Every scheme designed to trick companies into sending outgoing payments to someone who isn’t who they say they are is someone else’s incoming payments fraud problem.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information