Accounts payable (AP) automation company Basware has launched a new fraud/error protection solution. AP Protect, announced Monday (April 22), is an artificial intelligence (AI)-powered tool that helps finance teams guard against fraud, profit loss and invoice errors. “In 2023, Basware identified 10,800 incorrect payments made by companies...
The digital age has brought with it a new, sophisticated twist to traditional fraud threats. But while the threat of cybercrime is constantly evolving, as bad actors and cybercriminals leverage the same bleeding-edge tools that organizations have at their disposal, it’s important for firms to...
Remote working was a boon to businesses during the pandemic, as technology allowed many companies to remain productive when much of the world was shutting down. Along with greater technological dependence, however, came greater threats to organizations, such as cyberattacks, data breaches, fraud, bribery and corruption. The widespread use of personal devices,...
Only 38% of businesses are using document and identity authentication tools, leaving most organizations vulnerable to fraud attacks linked to incoming payments. In this month’s “B2B Payments Fraud Tracker®,” Candler Eve, director of enterprise fraud at MidFirst Bank, highlights three key ways to avoid invoice...
March 08, 2022
While many businesses made the shift to digital during the pandemic, some — too many, in fact — are still relying on paper-based accounts payable (AP) processes. It’s been well documented, of course, that AP modernization can improve cash flow collection. Indeed, PYMNTS’ own data show that 59% of chief financial officers at firms with […]
April 22, 2024
Accounts payable (AP) automation company Basware has launched a new fraud/error protection solution. AP Protect, announced Monday (April 22), is an artificial intelligence (AI)-powered tool that helps finance teams guard against fraud, profit loss and invoice errors. “In 2023, Basware identified 10,800 incorrect payments made by companies for supplier invoices due to duplicate payments and fraud,” the company said […]
April 20, 2022
Federal prosecutors have filed charges against a number of people over the past few weeks for allegedly carrying out a variety of scams connected to the COVID pandemic that totaled...
October 14, 2014
What initially seemed like an accomplishment, Hong Kong overtook the U.S. as the top destination for Chinese goods and materials. Now it seems like that particular stat may need an...
