Putting the AP in hAPpy
A weekly podcast providing fraud prevention and vendor setup training to protect the vendor master file. Immediate takeaways with actionable steps you can implement today into your vendor onboarding and maintenance process to reduce payment fraud, regulatory fines and bad vendor data. Great tips for the Accounts Payable and Procurement teams to clean-up their vendor data, clean-up their vendor processes so that they can pay the right vendor.
Putting the AP in hAPpy
Episode 379: Nacha Fraud Monitoring Rule Compliance for Non-Consumer Originators > Determining High Risk Vendors
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Phase 1 of the Nacha Fraud Monitoring Rule for ACH initiators is here. Part of the rule requires that you have a risk-based approach, but what criteria can you use to determine risk for your vendors? In this episode we’ll talk about three approaches to classify your vendors based on risk.
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Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to reduce the potential for fraudulent payments, compliance fines or bad vendor data. Check out the Vendor Process Training Center for 173+ hours of weekly live and on-demand training for the Vendor team.
Links mentioned in the podcast + other helpful resources:
- Nacha: RISK MANAGEMENT TOPICS – (Fraud Monitoring Phase 1)
- Free Nacha Compliance Webinar: Last Minute Compliance: 3 Ways To Meet Nacha’s ACH Fraud Monitoring Rule Before the Deadline!
- Confirmation Call / But Better: Vendor Callback Confirmation ToolkitTM
- Customized Vendor Validations Session: https://debrarrichardson.com/vendor-validation-session
- Free Download: Vendor Validation Reference List with Resource Links
- Vendor Process Training Center - https://training.debrarrichardson.com
- Customized Fraud Training: https://training.debrarrichardson.com/customized-fraud-training
- Free Live and On-Demand Webinars: https://training.debrarrichardson.com/webinars
- Vendor Master File Clean-Up: https://www.debrarrichardson.com/cleanup
- YouTube Channel: https://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiw
- More Podcasts/Blogs/Webinars www.debrarrichardson.com
- More ideas? Email me at debra@debrarrichardson.com
- Music Credit: www.purple-planet.com