The Bank of Small Business: An Internal Control System to Avoid B2B Payment Fraud
April 30 @ 1:00 pm - 3:00 pm
Businesses of all sizes are prime targets for payment fraud, losing over $37.4 billion between 2019 and 2023. This program offers a secure internal control system to prevent fraud when vendor payment details are added or updated. Learn step-by-step processes and receive forms and scripts to implement safeguards immediately.
This course will be held virtually on April 30, 2025, from 1:00pm to 3:00pm. The course minimum is 15 people and limited to 100 people.
As a small business still receiving vendor information via email, fax, or hard copy, no security awareness training or confirmation call alone can fully protect you from fraudulent payments. Cybercriminals consider small business staff and bookkeepers that handle vendor payment details an easy target, with over $37.4 billion lost to fraud between 2019 and 2023—and the threat continues to grow. Protecting your business, vendors, and hard earned cash requires specialized processes tailored to prevent fraudulent payments. In this course, you will learn a comprehensive internal control system designed to prevent fraud when vendor payment details are added or updated. Walk away with a secure, step-by-step process, including the necessary forms and scripts, so you can implement safeguards immediately.
After attending this program participants will also be able to:
- Implement up to 6 steps to avoid fraud when vendor remittance details are changed based on requests received via email, fax, or hardcopy.
- Identify what validations are required to verify a vendor is real, their information is accurate, and in compliance with regulatory requirements.
- Customize and use the included tools and templates to implement authentication techniques, internal controls, best practices and vendor validations to improve their current vendor process.
Materials Provided:
- PDF of the Presentation
- Authentication Reference Template
- Vendor Banking Form Template
- Global Vendor Validation Reference List
- Confirmation Phone Call Scripts Template
- Confirmation Log Template
- Desktop Procedure Template
This course would be beneficial to owners and staff that add new vendors or change existing vendor data.
Point Value: 5
