Topic:
Speaker:
Jeffery Cronin (Chief Strategy Officer, Zenwork)
Description:
Paper checks and ACH transactions remain central to many small‑business workflows, yet bad actors / fraudsters are now combining old‑school theft with cutting‑edge artificial intelligence. According to the Association for Financial Professionals, 91 % of organisations still issue checks and 63 % of those organisations experienced check fraud last year. Mail‑theft‑related check fraud alone has generated losses exceeding $688 million. Meanwhile, generative AI enables attackers to produce flawless phishing messages and counterfeit invoices.
This session will translate those headlines into practical steps CPAs and finance leaders can take right now. Jeffrey Cronin will break down today’s fraud landscape, share real‑world scenarios and demonstrate how modern tools – such as customizable approval workflow, compliance-first vendor payments reduce risk without slowing operations.
Key Takeaways:
- Understand why checks remain the most frequently victimised payment method and how mail theft and unauthorized ACH debits occur.
- Recognize AI‑enabled schemes such as business email compromise and deepfakes; learn to spot signs like unnatural pauses in voice or mismatched lip movements.
- Build a human firewall by training employees on verification procedures, dual control and questioning suspicious requests.
- Strengthen technical controls – customizable approval workflow, compliance-first vendor payments, multifactor authentication, role-based access control and self-serving portal for vendor to stop unauthorized transactions.
- Explore managing checks and adopting secure digital payment platforms like Zenwork Payments can cut fraud risk and streamline compliance.
Speaker
Zenwork