Yes, fraud is definitely a hot topic and nobody wants to get burned. We all go to bed each night hoping our system won’t get hacked, our employees won’t steal from us, our vendors won’t get victimized by an invoice phishing scam or we won’t get played by a scam artist. Quite often, we get up to find out that someone else has been burned by fraud or a devastating embezzlement scheme. Around the world, the cost is estimated to be more than $4.5 TRILLION, annually with an average business los of more than $1.5 million cited in the Association of Certified Fraud Examiners annual report for 2020. Can your business take a hit?
Do any of these problems sound familiar?
- Your company paid a phony invoice sent in by a phony company because they hacked someone’s email in your company and found out who processes the checks.
- You received and paid a phony invoice from a vendor that diverted funds to another account because the vendor got hacked.
- You company accounts payable department got conned by a voice on the phone who told you the boss authorized this payment and it needed to go out today.
- An employee set up dummy companies and created fake invoices from the dummy companies that your company paid.
- A vendor sent an invoice for something they did not sell you and you paid it.
- A vendor sent an invoice claiming someone gave the vendor a verbal okay to do work that wasn’t ordered.
- A vendor fails to complete the work they contracted to perform but you paid for it anyway.
Wouldn’t it be nice to put an end to all of this once and for all on a net zero cost basis to your company? Take a look at iCREDIT and see if the service that adds value (instead of just cost) is right for your company.