• Nonprofit Learning Lab

Partners in Fighting Fraud

This is a sponsored blog post from Paymerang.

Here are some tips to help you identify vendor impersonations and reduce payment fraud.







ABCD of Vendor Impersonators


A- Aggressor

Is forceful and demanding. Don’t be coerced!

B- Bouncer

Uses multiple contacts in your company until someone does what they ask. Don’t let them play games!

C- Clueless

Phishes for information without knowing basic facts (i.e. their own invoice number or whether payment has settled). Don’t give them information!

D- Desperately Hasty

In a rush for action with unnecessary urgency. Don’t be pressured!


Notice

  • Take notice of unusual tone, style, or word choices in emails

  • Be careful with vendor requests for banking information changes

  • Be aware of emails that come from personal email addresses or misspelled company email address (i.e. Jim@staples.com vs. jim@stapless.com)


Verify

  • When in doubt about an email, call the vendor using internal contact information and verify shared information before taking a critical action

  • Segregates duties of approving invoices and processing payments

  • Before clicking on a link, make sure to certify the email is legitimate


Educate

  • Communicate often internally as a team and externally with vendors

  • Create scripts or verification methods to verify and validate requests

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