![]() Examples include billing schemes, check fraud, and kickback scams. What is an accounts payable scam?Īn accounts payable scam refers to criminal activity that involves outgoing payments from a company. Advanced accounting software can help, but there are also plenty of detection methods that are simple to implement, even for businesses on a budget. While many of these scams are difficult to spot, you can put controls in place to help detect or prevent them. In 2019, a staggering 81 percent of organizations were targeted with payment fraud. Accounts payable scams are those that take advantage of finances flowing out of a business to steal money from operators or vendors. This equates to $4.5 trillion in losses globally. Organizations lose an estimated five percent of revenue each year as a result of fraud. ![]()
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August 2023
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