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Payment Fraud & Disbursement Controls
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9 Ways to Strengthen the Weak Link in Cybersecurity
Pesky Passwords Ask your IT chief about the weakest link in your organization’s cybersecurity, and you will receive a quick answer: employees. In cyberspace, passwords guard access to systems, email accounts and websites. Like the speakeasies of old, you need to know the password to get in. But with the ubiquity of password authentication, people … 9 Ways to Strengthen the Weak Link in Cybersecurity
Automated OFAC Screening
The effortless way to ensure OFAC SDN sanctions compliance There are dire consequences for organizations that do business with bad actors. Paying a supplier, person or party that is on the sanctions list of the Office of Foreign Assets Control (OFAC) of the U.S.Treasury Department could result in millions of dollars in monetary fines. Office … Automated OFAC Screening
Secure Vendor Onboarding
There’s a lot at stake when it comes to vendor onboarding. One slip-up can result in major fraud and compliance issues or strained vendor relationships. But many organizations are putting themselves and their vendor relationships at risk by relying on manual processes for onboarding suppliers. Finance and procurement teams waste lots of time … Secure Vendor Onboarding
Automated Bank Account Verification
Validating bank account ownership is a critical part of the vendor onboarding process. After all, every organization wants to be sure that it is paying the right supplier or individual. But most organizations still rely on manual processes for authenticating bank account ownership. Many organizations collect bank account details from suppliers through unsecure emails. Some … Automated Bank Account Verification
Don’t Click That Link!
If you have been working in or with accounts payable for very long, you are savvy. You know that crooks look for ways to get some of your organization’s money. It’s not easy to scam you. But what about staff? Do they fully comprehend how fraud is a fact of business life? Anyone working in … Don’t Click That Link!
Are You Disciplined in Preventing Fraud?
Failure to Follow Controls It happened again. This time, a county government in New Mexico electronically paid $447,372 in nine different disbursements to a criminal. The alleged fraudster may be a Kenyan, but he wasn’t posing as a prince trying to get a fortune out of the country. Instead, he was a resident of Rochester, … Are You Disciplined in Preventing Fraud?
Whom Are You Paying?
The Criticality of Vendor Bank Account Verification In accounts payable, guarding against fraud is like visiting a big city. Scammers are looking for you. New York City is one of the greatest and safest cities in the world. But take a tip from the natives, the guidebooks and even the Metropolitan Museum of Art (see … Whom Are You Paying?
Taking the Measure of Risk in Vendor Onboarding
Vendor Onboarding Fraud Risk Survey What is the biggest weakness in your vendor registration and onboarding process? Lack of visibility? Lack of internal controls? Manual processes? Lack of sufficient personnel? Threats to Vendor Payments Are Non-stop in 2022 IT security teams are working overtime to protect enterprise systems against relentless attackers. Accounts payable teams must … Taking the Measure of Risk in Vendor Onboarding
Falling for the Illusion of Cybercriminals Will Cost You
Appearances and Vendor Payments One of the most iconic scenes in a Hollywood heist movie comes near the end of Ocean’s Eleven. The “team” minus Danny Ocean lean against the balustrade in front of the Bellagio on the Las Vegas strip, quietly gazing at the fountains as Debussy’s beautiful Claire de Lune plays. Then one … Falling for the Illusion of Cybercriminals Will Cost You
OFAC Is Busy with Russia and More – Are You Keeping Up?
OFAC Sanctions Russians and Others The Department of Treasury’s Office of Foreign Assets Control (OFAC) list of sanctioned persons and entities has grown since Russia invaded Ukraine. But along with Russian oligarchs and entities, OFAC has also designated others, most notably two key Hizballah financiers operating out of Guinea in West Africa, in compliance with … OFAC Is Busy with Russia and More – Are You Keeping Up?
Need Help? We’ve got you covered
Explore answers to common queries and get the information you need from the experts at Financial Operations Networks.
Financial Operations Networks (FON) is a financial operations company whose products help accounts payable teams prevent payment fraud: VendorInfo, a vendor portal; InvoiceInfo, a supplier portal; DisbursementControls.com, a membership resource for disbursement controls; and VIMCOE, which provides accounts payable certification. FON is a Nacha Preferred Partner.
FON strengthens front-line control points across vendor onboarding, supplier maintenance, and payments — verifying vendor information, validating bank account ownership, running compliance checks, and reducing exposure to business email compromise (BEC) before payments are made.
VendorInfo is a vendor portal for onboarding: it verifies tax IDs, screens OFAC and validates bank account ownership before a vendor is paid. InvoiceInfo is a supplier portal for after the invoice: suppliers look up invoice status, payment dates and remittance advice themselves instead of emailing AP. Both sit on top of the same ERP and are often used together.
Yes. FON offers specialized programs including the AP Payment Fraud Prevention Certification and the Accredited Vendor Information Professional (AVIP) Certification to help finance professionals strengthen expertise and advance their careers.
Request a demo and our team will walk you through how FON can strengthen your controls, reduce fraud exposure, and improve AP efficiency based on your organization’s goals.
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