Six Signs Your Procure-to-Pay is at Risk for Fraud
The impact of fraud on today’s businesses and organizations is staggering. Just take a look at these examples pulled from headlines.
- The former head of digital fraud and security for the international Lloyds Banking Group was charged with defrauding his company of more than £2.5 million by creating false invoices and pocketing the income.
- Two employees of the U.S. Army Corps of Engineers pled guilty to a scam involving $30 million in payments made to bogus companies they created.
- Authorities in China arrested 18 people in a crackdown on an alleged invoice forgery ring; they confiscated more than 2.5 million fake invoices.