Putting the AP in hAPpy

Remember when Signature Bank and Silicon Valley Bank failed in March of 2023? Those were the first bank failures since October of 2020 and news was everywhere. Well, there have been 4 more bank failures since then with the latest one in April of 2024. What should the vendor team do? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: FDIC Republic Bank Failure: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/republicbank.htmlVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Process Training Center: https://training.debrarrichardson.comFree Live and On-Demand Webinars: Vendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

I experimented with generative artificial intelligence or generative AI – voice cloning for an upcoming webinar on avoiding payment fraud from deepfakes. Wasn’t expecting this…. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Webinar: Combatting Deepfakes to Avoid Business Email Compromise - In 5 Steps https://attendee.gotowebinar.com/register/3278619867996327770?source=Debra+PodcastVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Process Training Center: https://training.debrarrichardson.comFree Live and On-Demand Webinars: Vendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

You may worry about vendor banking information and preventing fraudulent electronic payments – however, both internal and external fraudsters are after your checks. If you want to make sure you are protecting remittance addresses for your checks…. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Webinar: Avoid Paper Check Fraud When Paying Your Vendors – In 5 Steps https://attendee.gotowebinar.com/register/1144090665839159387Vendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Process Training Center: https://training.debrarrichardson.comFree Live and On-Demand Webinars: Vendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Validating Vendor Banking information is critical to 1) make sure payments are successful; and 2) to validate you are paying your actual vendor and not a cybercriminal. There have been some changes in resources for 2024, so if you want to hear the updated resources…… Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Vendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Process Training Center: https://training.debrarrichardson.comFree Live and On-Demand Webinars: Vendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Most internal fraudsters display at least one of eight (8) red flags that fraud is occurring. Do you know what to look for? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: ACFE Occupational Fraud 2024: A Report to the Nations: https://legacy.acfe.com/report-to-the-nations/2024/Training Session: IRS W-9 Examples By Tax Classification - What To Look For When Accepting From Your VendorVendor Process Training Center: https://training.debrarrichardson.comFree Live and On-Demand Webinars: Vendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Now that the new IRS Form W-9 is published, let’s look at a frequently asked question I get – what should you do if the vendor’s legal name and tax id combination is not valid with the IRS? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Training Session: IRS W-9 Examples By Tax Classification - What To Look For When Accepting From Your VendorVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC Free Live and On-Demand Webinars: Vendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

In 2023, Business Email Compromise, or BEC, is still a money maker for fraudsters according to the latest report by the FBI. Here is a quick look at the stats compared to 2022 and before the pandemic. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Federal Bureau of Investigation(FBI): Internet Crime Report 2023Federal Bureau of Investigation(FBI): Internet Crime Complaint CenterVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: Free Live and On-Demand WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Finally – the IRS has published the updated version of the Form W-9. Now what? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Training Session IRS W-9 Examples By Tax Classification - What To Look For When Accepting From Your VendorIRS: Instructions for the Requester of Form W-9 (Rev. March 2024)IRS:Form W-9 (Rev. March 2024)Vendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Do you have in your vendor bank account add or update process, that if the bank account ownership validation is successful – you stop right there? That’s no longer appropriate. Why?.... Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: TrustMI Blog: Why Bank Account Validation Isn’t EnoughAuthentication Training - AVM 3 Step Vendor Setup & Maintenance Process WorkshopVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Remember that $25.6M successful payment to fraudsters? Of course you do, seems like every media outlet and all the companies you subscribe to (like mine) reported on it too. So how can you combat? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: CNN Article: Finance worker pays out $25 million after video call with deepfake ‘chief financial officer’Authentication Training - AVM 3 Step Vendor Setup & Maintenance Process WorkshopVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Get 20 tips to avoid the latest fraud trends of 2023 in 2024. Discover the latest 6 fraud trends of last year and how you can stay updated, avoid and detect fraud in the vendor setup and maintenance process. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: On-Demand Webinar: 20 Tips in 20 Minutes: Avoiding The Latest 2023 Fraud Trends in 2024Vendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Watchlists, sanction lists, exclusion lists, etc – here are three reasons why you may not be compliant with regulatory requirements. Plus, how you can get recommendations at no extra charge or how you can “diy” and build your own watchlist compliance matrix. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Webinar: In 5 Steps: Build a Watchlist Compliance Matrix to Avoid Fraud and Fineshttps://debrarrichardson.com/webinarlisting/webinar-in-5-steps-build-a-watchlist-compliance-matrix-to-avoid-fraud-and-finesGet Recommendations for Watchlists and More:Customized Vendor ValidationsVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

How hard is it for you to get approved $500 of training or software to help you do your job better? See what fraudsters get for $500 to defraud you and your company. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: The Hacker News Article Referenced: Telegram Marketplaces Fuel Phishing Attacks with Easy-to-Use Kits and MalwareAuthentication Training (Free Section): 3 Step Vendor Setup & Maintenance Process WorkshopSubscriber to New Scam Alerts: https://training.debrarrichardson.com/blog Vendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

To mitigate fraud, many companies are taking steps to avoid potential fraud risks – including verifying banking details via phone. If that happens when you try to confirm your vendor’s bank change, what can you do? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Authentication Training (Free Section): 3 Step Vendor Setup & Maintenance Process WorkshopVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

It was two years into an AP Sr Manager position when I realized that another group had access to one of my vendor record screens in the vendor master file. Just one. What? Why? Then we fixed it. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Live Webinar: In 5 Steps-A Security Audit to Protect Vendor Data and Avoid FraudVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

Now that it’s 1099 season many of you are reminded of how you just didn’t get around to making sure the information you collect from your vendors is sufficient and valid for tax reporting, nor how you make sure it stays that way. If you want 20 tips on how to handle your Federal and State Reportable Vendors year-round….. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 116+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: On-Demand Webinar: 20 Tips in 20 Minutes: Best Practices Handling US Federal and State Reportable Vendorshttps://attendee.gotowebinar.com/register/7453970190781734749Vendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

If your vendor had to notify you of a fraudulent payment, you don’t have enough controls. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check the Vendor Process Training Center for 115+ hours of weekly live and on-demand training for the Vendor team. Links mentioned in the podcast + other helpful resources: Free Training Session: Plug Up The Gaps In Your Vendor ProcessLinkedIn Newsletter: If You Had to Wait for a Vendor To Notify You of a Fraudulent Payment - You Don't Have Enough ControlsCity of Burlingame: (scroll to bottom of article for earlier press releases)City recovers approximately 84 per cent of fraudulent funds from 2019 online phishing incidentVendor Process Training Center: https://training.debrarrichardson.comDebra R Richardson LLC: 20 Tips in 20 Minutes WebinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

It shouldn’t happen but it always does – vendors don’t have a valid address on file. You don’t want check payments or 1099s to come back, so here are some free reliable sources to find an address that is tied to your vendor. Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 115+ hours of weekly live and on-demand training for the Vendor team and register your free account for 3 free training sessions. Links mentioned in the podcast + other helpful resources: IRS Tax Exempt Organization Search Tool (TEOS): https://www.irs.gov/charities-non-profits/tax-exempt-organization-searchSecurities and Exchange Commission (SEC) Edgar Database:https://www.sec.gov/edgar/search/#/entityName=USERFUL%2520CORPORATIONState Site Links: Vendor Process Training Center > Resource Library: https://training.debrarrichardson.com/resourcesDebra R Richardson LLC 20 Tips in 20 Minutes: https://debrarrichardson.com/webinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

#Scamolidays are still going on, but we’re in the final week of the 4 week focus on specific scams and all content is up and published. Want to know what content is ready for you to stay safe through New Years and into 2024? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 149+ hours of weekly live and on-demand training for the Vendor team. Subscribe today to be entered in the subscriber-only monthly drawing to win a free Putting the AP in hAPpy Coffee Mug. Links mentioned in the podcast + other helpful resources: #Scamolidays: https://training.debrarrichardson.com/scamsVendor Process Training Center: https://training.debrarrichardson.com20 Tips in 20 Minutes Webinars: https://debrarrichardson.com/webinarsVendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com

When you and your team are setting up vendors for ACH or Wire payments – do you know what those bank branch numbers are? Do you know how to validate? And if you know you should validate - do you have links to those resources? Keep Listening. Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. Check out my new Vendor Process Training Center for 149+ hours of weekly live and on-demand training for the Vendor team. Subscribe today to be entered in the subscriber-only monthly drawing to win a free Putting the AP in hAPpy Coffee Mug. Links mentioned in the podcast + other helpful resources: Vendor Validation Reference List with Resources Links:www.debrarrichardson.com/vendor-validation-downloadVendor Process Training Center: https://training.debrarrichardson.com20 Tips in 20 Minute Webinars: https://debrarrichardson.com/webinarsVendor Master File Clean-Up: https://www.debrarrichardson.com/cleanupYouTube Channelhttps://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiwMore Podcasts/Blogs/Webinarswww.debrarrichardson.comMore ideas?debra@debrarrichardson.comMusic Credit:www.purple-planet.com