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How False-Positives Complicate The B2B Payments Fraud Fight

PYMNTS

Cybercriminals may slightly change the name of a legitimate vendor to trick a company into paying a seemingly real company, or a vendor can suddenly change currency between purchase and payment to take advantage of a payment conversion. The issue of false positives is quickly becoming the biggest fraud concern for digital platforms.

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What is accounts payable outsourcing?

Nanonets

Organizations dealing with sensitive financial data may be hesitant to use a third-party vendor for their AP processes. Issues with duplication Many account payable outsourcing companies charge on a per-invoice basis. Hence, if your business shares duplicate invoices, you are going to have to pay for that too.

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How to Use AI in Bank Statement Processing

Nanonets

Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions. Regularly analyze reasons for variances (for eg: format differences, fraud, duplicate records) Discrepancy identification During reconciliation, any mismatches are flagged for further review.

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Reopening: The Tech-Enabled Office In A Post-Covid World

CB Insights

Low-touch or touchless entry using smartphones or “wave to unlock” solutions require less hassle than certain traditional methods, such as keycards, which can also be easily duplicated. Additionally, the explosion in e-commerce activity increases the amount of sensitive data companies and their vendors need to protect.

Posting 101
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FDA 21 CFR Part 11 – What Every Business Must Know?

VISTA InfoSec

Even third-party vendors who handle electronic data for these industries must comply. Electronic Signatures: Ensuring signatures are unique to each user and cannot be easily duplicated. Medical Devices: For tools and devices used in medical treatment. Food and Beverage: For safety and quality control of consumables.

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