Best Practices for Verifying Bank Account Ownership and Preventing Payment Fraud

Webinar Overview

Cybercriminals aren’t breaking in – they’re tricking you into handing over the keys.  Phony bank account change requests are among the fastest growing and most damaging forms of payment fraud.  And accounts payable departments are the primary target.  If your process for verifying bank account ownership still relies on phone calls, spreadsheets or email confirmations, you may be more vulnerable than you think – especially when international suppliers and third-party portals are involved.  This webinar will expose how these schemes work, why traditional verification methods are no match for modern fraud tactics, and how a single lapse can lead to six- or seven-figure losses. 

What you will learn:

• How cybercriminals use phony bank account change schemes to redirect payments
• Why conventional verification methods leave AP teams exposed
• How international bank accounts complicate the risk equation
• Best practices for verifying bank account ownership with confidence
• The role of automation in streamlining and securing verification
• What to look for in an automated bank account verification solution

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