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5 Ways To Keep Your Accounts Payable Security Tight

5 Ways To Keep Your Accounts Payable Security Tight

January 18, 2018

Whether it’s online or in the real world, fraud prevention should be a top priority for any company, regardless of size or field. Even relatively “minor” cases of AP fraud can result in businesses losing tens of thousands of dollars.

Fortunately, there are a number of best practices your company can follow to ensure you keep a strong security posture for years to come:

1) Make staff aware of evolving AP risks

Last year, fraud related to billing was the most common type of AP fraud seen nationwide, according to the latest data from the Association of Certified Fraud Examiners. Not far behind, however, were issues like check tampering, improper expense reimbursement and skimming Unfortunately, companies that didn’t have significant fraud protection were hit twice as hard in terms of financial loss by these types of fraud.

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