Business Email Compromise (BEC) Accounts Payable

• Combatting Business Email Compromise (BEC): Gain insights into the evolving landscape of BEC scam threats and learn proactive measures to protect your organization from fraudulent activities targeting the accounts payable function.

• Internal Control Best Practices: Discover effective strategies to develop and implement robust internal controls specifically tailored to combat BEC scam threats within the accounts payable process.

• Fraud Prevention Techniques: Explore practical techniques and best practices for preventing fraudulent activities related to vendor payments and account changes.

• Understanding how to implement up to 6 steps to avoid BEC and other frauds when vendor remittance details are changed based on requests received via email, fax, or hardcopy.
• How to identify the required validations to verify the authenticity of vendors and ensure compliance with regulatory requirements
• Approaching the customization and utilization of the included tools and templates to implement authentication techniques, internal controls, BEC scam best practices, and vendor validations to enhance the current vendor process.

Section 1 - Why It’s Getting Harder Not to Pay a Fraudster

• Your Current Process
• The Problem with Email
• The Problem with that Confirmation Call

Section 2 - New Process for Vendor Bank Changes

• Add Authentication Techniques, Internal Controls and Best Practices concerning BEC scams
• Add One Additional Control So You Don’t Lose Significant Vendor Payments

Section 3 - Templates and Resources to Implement Now

• Authentication Reference
• Vendor Banking Form Template
• Vendor Validation Reference List
• Vendor Global Registration Numbers
• Confirmation Call Script
• Confirmation Call Log
• Send Vendor Notification of Change
• Check Payments Before Sending Pay File
• Make it Auditable - Desktop Procedure - Vendor Inquiries

Section 4 - Question & Answers about BEC scams

This CPE event, "The Bank of Accounts Payable," delivers a comprehensive exploration of the critical subject matter: the risks associated with Business Email Compromise (BEC) scams and strategies for implementing internal controls to mitigate these risks within the accounts payable process.

The BEC event provides deep insights into authentication techniques, the establishment of robust internal control systems, specialized training for the Accounts Payable team, and the utilization of tools and templates to enhance vendor validation processes and overall security measures.

Upon completion of the event, participants will earn 2 Auditing CPE Hours (YB), making it a valuable opportunity to gain actionable knowledge while fulfilling professional development requirements.