Crime is on the rise globally, and payment fraud is at an all-time high. According to the 2019 Association for Financial Professionals’ (AFP) Payments Fraud and Control Survey, 82% of organizations reported fraud incidents in 2018, and 43% experienced direct financial loss as a result.
And the construction industry isn’t exempt, with 56% of fraud cases directly related to billing and check/payment, and the median loss just shy of a quarter of a million dollars in more than 40 fraud cases.
Join us to learn how to recognize and prevent common types of fraud attacks, including:
- The most common types of fraud in the construction industry
- 5 tips to protect your business against financial fraud
- How payment solutions can mitigate risk by eliminating paper checks
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As the principal solutions consultant for AvidXchange, Rhonda Greene, APSC, specializes in helping companies streamline accounts payable (AP) operations and create efficiencies through automation and best practices. As an AP subject matter expert, Greene has held management roles for more than 25 years and enjoys sharing best practices with other financial professionals to help them manage day-to-day challenges.