Host: Joe Castelluccio, Business Development Manager, General Products & Services at E&I Cooperative Services
Guests: Naomi Emmons, Deputy Chief Procurement Officer at the University of Kentucky; Rick Gay, Director of Procurement Services at Spring Branch Independent School District; and Taylor Nemeth, Head of Payments at PaymentWorks
With 74% of organizations reporting they were the target of an actual or attempted payments fraud in 2020, the problem is well known -- but not well understood.
In this episode, Joe and our guests discuss the common ways these frauds are successful using real-world examples from higher education and K-12 institutions. You'll learn why the risk inherent to the vendor master is not solved by traditional cybersecurity, common ways in which fraudsters try to trick AP/procurement into changing bank account information, and the processes in place at Spring Branch ISD and UK that thwarted fraudulent attempts.
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