Positive Pay and Payee Positive Pay are some of the most powerful tools developed in the fight against check fraud. These services are offered by all major banks and most regional banks. When combined with truly controlled and highly secure checks, they can create a powerful defense against check fraud.
However, Positive Pay and Payee Positive Pay are not fool-proof. For example, Payee Positive Pay will not catch added payees. To identify the pros and cons of any system, we need to understand how it was developed and what needs it was targeted to serve. SAFEChecks president - Greg Litster - in this webinar will go into detail about the following topics:
Many small and medium companies believe that they lack the technological wherewithal to create the files required by their bank for Positive Pay. Other organizations are using systems that are cumbersome and time-consuming. These obstacles to using Positive Pay are easily resolved with robust yet user-friendly software strategies.
Check fraud continues to be the most prominent form of payment fraud, and is being used in both “high tech” BEC scams and “low tech” embezzlement schemes. There are many straightforward protocols organizations can employ to protect themselves against this crime, and CPAs and other finance professionals can arm themselves with the latest information in fraud prevention to become “value-added” to their organizations.
President, SAFEchecks: Abagnale Superbuisness Check
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KM
My experience with myCPE has been wonderful! It provides a simple and easy way to earn CPE credits through self-study courses and webinars on a variety of topics. I have learned so much from all of these courses as well!
BD
Part of the audit procedures for an audit I'm working on includes some controls testing over Positive Pay. This course was helpful in providing a background.
RK
Even though it was partially a sales pitch, it was very useful and interesting. I was surprised how much was shared that I did not know.
BS
I am not in an industry that this is very relevant too, but it is a super interesting topic to gain CPE on
JA
Presenter does a good job of showing how businesses can protect themselves against check fraud.
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