Before this course, your organization may be vulnerable to the intricate web of payment frauds, both from external and internal threats. Our course acts as a bridge to transform your organization into a fortress against these financial crimes. After participating, you'll move from a position of vulnerability to being well-equipped with the latest knowledge and tools to combat electronic payment frauds. You'll learn how to identify potential frauds, evaluate banking fraud protection products, and establish strong internal controls. Moreover, we'll guide you in creating a p-card program that drastically reduces employee fraud risk and how to effectively use payee name positive pay. This transformation in your approach to payment security will significantly uplift your organization's defense mechanisms, making you a proactive guardian against the spectrum of payment frauds.
Learning Objectives
After completion of this course, participants will be able to:
Understand how new electronic payment frauds work and how to protect your organization
Identify the types of payment frauds likely to impact your organization;
Evaluate the different fraud protection products offered by the banking community;
Craft the proper controls within your organization so you can stop employee fraud;
Create a p-card program that will make potential employee fraud almost negligible;
Use proper procedures when utilizing payee name positive pay so it provides the most protection; and
Implement best practices are for preventing and detecting p-card, check and ACH fraud.
Major Topics
Checks
P-cards
Electronic payments
ACH
Wire
Instant Payments (Zelle, Venmo)
Petty cash
