Payment Fraud CPE Course | Free CPE Webinar

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“This Ain’t Your Grandpappy’s Payment Fraud” Part 1

Learning Objectives

To identify specific payment fraud strategies used by criminals to infiltrate your organization’s payment systems.
To develop straightforward protocols to prevent and reduce various types of online and old-school payment fraud.
To understand an organization’s versus a bank’s liability in various fraud scenarios.

Course Description

Payment fraud has existed since before the founding of our country, and has accelerated exponentially since the advent of the internet. Covid-19 has created a fertile bed for even more payment fraud of all stripes.

The webinar will discuss BEC and VEC scams, Wire Fraud, and ACH Fraud, and how criminals make increasingly sophisticated inroads into your bank accounts. The presenter will share real-life fraud situations, including how the fraud attempt occurred and specific strategies on how losses can be prevented or reduced. The attendees will received specific, straightforward strategies to prevent and reduce fraud, and to protect their organizations from losses.

The following are some of the scams discussed at length:

BUSINESS EMAIL COMPROMISE SCAMS (BEC) - Business Email Compromise (BEC) scams continue to explode. They are often paired with wire fraud, payment diversion, and account takeovers. Attendees will be able to detect common and complex BEC scam scenarios and implement proactive controls that are imperative to protect themselves and their organizations from fraud.

VENDOR EMAIL COMPROMISE SCAMS (VEC) - Vendor Email Compromise scams (VEC), a variant of BEC Scams, are already producing substantial losses and target an organization’s vendors, not the organization itself. Specific strategies to be discussed can greatly reduce losses. Attendees will navigate the latest inroads of VEC scams, and receive straight-forward, actionable advice to prevent losses.

WIRE FRAUD - Wire fraud skyrocketed from 3% of payment fraud attempts in 2010 to 40% today, and intertwines with epidemic-level BEC scams and check fraud. It is very preventable with specific internal protocols and approaches to fraud prevention.

ACH FRAUD - ACH payment fraud has risen dramatically in the last two years. Unauthorized ACH debits, and ACH payments unwittingly sent to fraudsters instead of intended vendors due to bogus change-of-bank-and-remittance instructions, are not the bank’s liability. These fraudulent transactions cannot be returned or recalled after 24 hours, making prevention crucial.

Fraud may shift between payment methods and communication styles and types, but it is not going away in our lifetimes! Its scope is expanding astronomically. Recently, a clear integration of social engineering and technology with both new and old-school payment systems has emerged. Fraudsters are more sophisticated and subversive.

This is a significantly important webinar for the accounting and tax professionals who want to safeguard the interest of their clients. Real-life fraud situations will be discussed, including how the fraud attempt occurred and specific strategies on how losses can be prevented or reduced

Webinar Qualifies For

1 CPE Credit for Certified Public Accountants (CPA-US)
1 General Credit for Accountant/Bookkeeper/Tax Professionals
1 CE Credit for Certified Wealth Strategist (CWS)
1 CE Credit for Certified Fiduciary and Investment Risk Specialist (CFIRS)

About Instructor

Greg Litster

President, SAFEchecks: Abagnale Superbuisness Check

Greg Litster is president and founder of SAFEChecks, and is editor of Frank Abagnale’s Fraud Bulletin. Greg is a former banker of 18 years, has written articles published in AFP Exchange, American Payroll Association, American Land Title Association, and Sheshunoff’s Corporate Cash Management Manual. He has served as an expert witness on several national and international check fraud and embezzlement cases, and has spoken on fraud prevention across the country for numerous financial institutions and professional organizations, including AFP, GFOA, Texpo, SoCal Expo. Greg earned a Bachelor of Science in Economics and an MBA in Finance, both from Brigham Young University.

Additional Information

Duration

1 Hour

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

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Paula Levineheise, Accountant/Bookkeeper/Tax Professionals

I have attended a webinar with this presenter before, and he is amazing. Always informative and interesting. I take time during my work day to attend these, and this is definitely a good use of my time.

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“This Ain’t Your Grandpappy’s Payment Fraud” Part 1

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Greg Litster

Other Details

Additional Information

1 Hour

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.6

Paula Levineheise, Accountant/Bookkeeper/Tax Professionals

Subject Area

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