Account Payable Fraud Prevention: Safeguarding Your Business ambitkpo.com

“What are Accounts Payable Fraud?

Accounts payable fraud is when a business sends money to its customers or sellers without permission or telling the truth. Anyone, inside or outside the company, can do it in a lot of different ways.

Here are some examples of accounts payable fraud
● An employee makes a fake bill from a source and sends it in to be paid.
● An employee changes a vendor’s invoice to make the amount due bigger.
● An employee agrees to pay for things or services that were never delivered.
● The employee writes checks to themselves or to fake companies.
● An employee uses company money to pay for things that aren’t related to work.
● The vendor submits a fake invoice for goods or services that were never provided.”