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Episode 248: Replay! Vendor Banking Update? Why Calling the Vendor is Not Enough for Fraud Prevention
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My power is out! Enjoy the replay of this always timely subject.
It’s common practice for Accounts Payable (AP) Vendor Maintenance to call the vendor when there is a change requested to the vendor’s bank account. There is no shortage of fraud being reported, for AP teams not to know that additional validation protects companies from making fraudulent payments. The question is: Are AP teams driving up volume of required vendor confirmations by not adding additional authentication processes because the vendor will be called to confirm the change anyway?
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