Opinions & Community

How an Invoice Number can protect you from fraud and error

The simple Invoice Number can be a useful tool to protect your organisation. In this blog, we will explore the importance of Invoice Numbers, why they are important for Accounts Payable, and how you should make the most of them to avoid losses due to fraud and error....

Know Who You’re Paying with a Credit Check

Purchasing goods online can be fraught with danger. It is often difficult to know precisely who you are transacting with. In this blog we will examine the importance of undertaking a Credit Check so you can have confidence that you’re sending funds to a legitimate...

eftsure: Protecting $5b+ in EFT Payments Monthly

In July 2021, eftsure helped protect Australian organisations by verifying a record $5 billion in EFT payments. With much of Australia returning to remote work, invoice redirection scams are once again on the rise. Using a variety of tactics, scammers are regularly...

Accounts Payable Security Report: August 2021

Each month, the team at eftsure monitors the headlines for the latest Accounts Payable security news. We bring you all the essential learnings, so your Accounts Payable team can stay secure. AFP Goes Global to Fight Scammers Read More Perhaps the biggest challenge in...

Combatting Fraud and Corruption

Key Takeaways: AS8001:2021 is the updated Standard to help organisations combat fraud and corruption It builds on previous versions by making Boards responsible for combatting fraud and corruption, factoring in new technologies and embracing a whole-of-organisation...

Cyber-Attacks: The New Sovereign Risk on CFOs’ Radars

On 19 July 2021, the Australian Government joined international partners in expressing serious concerns about malicious cyber activities by China’s Ministry of State Security. The coordinated statement effectively attributed responsibility for the large...

Prevent Error and Fraud with Segregation of Duties

What is Segregation of Duties? Strong internal controls are the backbone of any well-run accounts payable function. Without robust internal controls, there is a greater likelihood that your organisation will face potentially costly human error. Perhaps even more...

Don’t Cut Corners: Doing Call-Back Controls the Right Way

Call-back controls are among the most important measures to mitigate your organisation’s exposure to the risk of fraud. Unfortunately, call-back controls can also be a drain on your Accounts Payable (AP) team’s limited resources. Despite the fact that call-backs are...

Dedicated Email for Managing Invoices

Sometimes small details make a big difference. In this blog, we will explore the importance of having a dedicated Accounts Payable (AP) email address that is used exclusively for managing invoices and communications between the AP team and suppliers. To many, this may...

Vendor Email Compromise

It seems like every day ushers in a new type of cyber threat – the latest being the Vendor Email Compromise (VEC) attack. In this blog we will explore what makes VEC attacks so pernicious and how you can defend against them. Taking Responsibility Whether your network...