Business Email Compromise (BEC) Accounts Payable - In-Person
The Problem: Business Email Compromise (BEC) costs "Real Money" in Accounts Payable!
Join us for an enlightening CPE event on one of the major business email compromise targets: "Accounts Payable" processing. This event is hosted by Debra R Richardson a noted industry expert in procure to payment and understands business email compromise scams and BEC frauds in detail.
This CPE event aims to offer a thorough comprehension of the risks associated with business email compromise (BEC) and strategies for implementing internal controls to mitigate these risks within the accounts payable process.
The internal controls covered in this event detail:
- Verification of Vendor Information: Validating the authenticity and accuracy of vendor details to ensure compliance with regulatory requirements.
Authentication Techniques: Implementing authentication protocols to verify the legitimacy of requests for changes to vendor remittance information received via email, fax, or hardcopy.
Internal Control System: Establishing a comprehensive internal control system designed to combat business email compromise, including robust processes and best practices to mitigate the risk of fraudulent payments through BEC scams.
Specialized Training: Providing security awareness training tailored to the Accounts Payable team to educate them on recognizing and addressing potential business email compromise threats.
Utilization of Tools and Templates: Customizing and utilizing specific tools and templates provided to improve vendor validation processes and enhance overall security measures.
Enrolled participants will have access to a suite of downloadable templates, including but not limited to:
- Authentication Reference Template
- Vendor Banking Form Template
- Global Vendor Validation Reference List
- Confirmation Phone Call Scripts Template
- Confirmation Log Template
- Desktop Procedure Template – Vendor Inquiries / Help Desk
You will learn in this event about having an internal control system to avoid BEC scams and BEC fraud. Come away with a Fort Knox mindset concerning accounts payable processing and an understanding of how to make the accounts payable process more security. The training includes example forms and scripts you need to implement today to end BEC scams.
This internal control training course will provide each attendee with 2 CPE Event Hours (YB). A certificate of completion will be provided.
Details on Event Presentation
Being offered on Fridays at 9:00 a.m. to 12:45 p.m.
We can schedule private events on your timetable for two or more attendees. This event is also available for on-site private training for your procurement staff.
NASBA Program Disclosure
Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 4, based on 50 minutes of instruction per hourCPE Event Highlights
1. Data Security Strategies
Discover the latest strategies and technologies for safeguarding vendor data against cyber threats and payment fraud. Gain valuable insights into practical security measures designed to protect your organization's invaluable data assets.
2. Compliance Requirements Demystified
Navigate the regulatory landscape surrounding vendor data management, including GDPR, CCPA, and more. Ensure compliance with data protection regulations while optimizing your vendor data management practices.
3. Proactive Risk Mitigation
Go beyond collecting vendor data and entering it into your vendor master file. Equip yourself with effective risk assessment and mitigation techniques to proactively address vulnerabilities in vendor data management. Learn to identify and mitigate risks for a robust data management strategy.
4. Leading Industry Framework
Explore Authentication.Validation.ManagementTM, a proven framework for vendor data management to avoid fraud, regulatory fines and bad vendor data. Elevate your data management approach with insights from an experienced professional.
Explore Authentication.Validation.ManagementTM, a proven framework for vendor data management to avoid fraud, regulatory fines and bad vendor data. Elevate your data management approach with insights from an experienced professional.
Learning Objectives
- Dive into the cutting-edge strategies and technologies crafted to protect vendor data against evolving cyber threats that can lead to payment fraud.
- Embark on a journey through a comprehensive foundation framework for vendor data management.
- Arm yourself with impactful mitigation techniques to proactively tackle vulnerabilities in vendor data management.
- Discover the industry's authentication techniques, internal controls, best practices, and vendor validations for accurate vendor data management to avoid payment fraud, regulatory fines and bad vendor data.
Key Issues on the Agenda
Introduction
Section 1 Fraud in the Vendor Process
- Sensitive Personal Information
- Social Engineering Schemes
- Occupational Fraud
Section 2 Three Step Vendor Setup & Maintenance Process
Section 3 Data Authentication- Authentication Techniques for Callers
- Authentication Techniques for Emails
- Authentication Techniques for Vendor Information Fields
- Authentication Recap
Section 4 Validation of Data
- Validate Vendor Data Collected
- Validate Vendor Banking Data Collected
- Other Validation Considerations
- Validate Recap
Section 5 Management of Vendor Data
- Vendor Master File Best Practices
- Vendor Master File Internal Controls
- Vendor Master File Vendor Data Review
- Managsment Recap
Section 6 Summary and Wrap-Up
Summary of the Subject Matter
This CPE training event provides an insightful exploration of the essential strategies and technologies aimed at safeguarding vendor data against emerging cyber threats that can lead to payment fraud, compliance fines and bad vendor data.
It also delves deep into the intricate landscape of regulatory compliance that surrounds vendor data management, offering a comprehensive understanding of the crucial requirements and implications. Additionally, the training event equips individuals with effective risk assessment and mitigation techniques, empowering them to proactively address vulnerabilities in vendor data management.
Furthermore, the instruction uncovers the industry's authentication techniques, internal controls, best practices and vendor validation in a framework that have proven to be an effective strategy for vendor data management.
Distinguished Instructor
Debra R Richardson, MBA, CFE, APM, APPM, CPRS
Debra, an accounts payable consultant with over 20 years of experience in Fortune 500 companies like Verizon, General Motors, and Aramark, is a seasoned professional in accounts payable, accounts receivable, general ledger, and financial reporting. Debra brings a wealth of knowledge to her events.A Certified Fraud Examiner (CFE), her expertise in Global Vendor Maintenance and implementation of vendor self-registration portals has been pivotal in establishing robust internal controls to prevent fraud.