Put up $2, and you can score $100 million. Incoming payments are the new attack vector.
And as nsKnox Chief Operating Officer Nithai Barzam and Ansys Corporate Controller Bob Bonacci told PYMNTS' Karen Webster, accounts receivable departments are especially vulnerable to financial fraud.
First thing’s first. Payments fraud, of course, runs both ways: Every scheme designed to trick companies into sending outgoing payments to someone who isn’t who they say they are is someone else’s incoming payments fraud problem.