Stampli Warns: As Regional Banks Come Under Pressure, Beware Accounts Payable Fraud
MOUNTAIN VIEW, Calif., June 1, 2023 /PRNewswire/ -- Amidst the chaos pervading the regional bank industry, companies should take steps to avoid being victimized by scammers trying to submit false banking information to obtain fraudulent payments, according to Stampli, the leader in AI-powered Accounts Payable automation.
- Fraudsters impersonating a business's existing vendor might contact Accounts Payable departments, claiming that they had to switch banks and asking to update the vendor's payment details with fraudulent account information.
- The good news is that with proper protocols and tools, accounts payable teams can stop fraud before it starts."
- According to Vanessa Larimore, Accounts Payable Manager, CSS Farms does see fraudsters attempting to change vendor bank information — but none have been successful.
- Stampli is an AI-powered Accounts Payable automation solution that brings all of a customer's AP-related communication, documentation, and workflows into one place.