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In honor of Halloween, we'll begin today's blog post with a scary story. 

Like all great scary stories, this story is based on real events. Be warned: this story is not for the faint of heart. By the end, the thought of invoice fraud will genuinely haunt you (if it isn't haunting you already). The good news is, there are ways to ensure you don't end up in a real-life invoice fraud nightmare.

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National Cyber Security Day!

In 1988 Association for Computer Security created Computer Security Day to raise awareness of computer security issues.

Here at OnPay Solutions,we pride ourselves on offering our clients a way to automate their accounts payable process via completely secure, automated payment transactions that you control.  We are especially cognizant of ways to ensure safe payment activities and mitigate fraud risk. That being said, in honor of National Cyber Security Day, we thought we'd share some of the best easy-to-follow steps. * shared fom

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Do you know that companies lose an estimated 5% of their revenue annually due to fraud, according to the 2016 ACFE Report to the Nations?

We don't want you to be one of them.

Your payment system should have multiple levels of security, especially when used for issuing ACH (Automated Clearing House) payments. Fraud prevention along with fraud detection strategies embedded in your payment platform and processes should hinder the capability of a "lone wolf attack." In days gone by, companies might have been compelled to use a single computer in a room with closed circuit TVs to protect the business files.

Today there should still be levels of access built into your system and for your team to follow, and in honor of International Fraud Awareness Week, here are the seven best practices for payment fraud prevention:

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#TBT — 2 of Our Fan Favorite Blog Posts

Written by Tessa Tavares Costa | Thu, Sep 01, 2016 @ 05:30 AM |

Friday is almost here! We know, you have had a busy week and may still have a lot more on your ToDo list. It will all get done.

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Running a successful business as a CFO or Accounts Payable manager is a constant venture be vigilant about protecting your corporate assets. When dealing with payments like automated Clearing House (ACH) payment or Wire Transfers, corporate accounts must be protected with minimum risk. Unfortunately, ACH and Wire fraud are more prevalent in our cyber-connected nation. 

ACH and Wire payments have been a mainstay for bank and business transactions for several years, allowing the capability to electronically transfer funds between banks by using just the account and routing numbers. As time goes on and technology becomes more advanced, new fraudulent practices are found to bypass security clearances and steal time-sensitive information from businesses. Know what to look for to avoid becoming a victim of ACH or Wire fraud and learn how to spot scams. 

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