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BEC Scams: What Treasurers Need to Know

  • By Andrew Deichler
  • Published: 12/8/2015
becscamguidecoverBusiness email compromise (BEC) scams are among the top fraud threats to corporate treasury and finance, as both the frequency of attempts and the total dollar amounts stolen have increased dramatically in recent months. Whenever financial professionals gather to network, conversation quickly turns to BEC scams. Many practitioners have firsthand knowledge; they know the trends, and they know when to flag a scam attempt. So why are so many companies still being victimized?

In AFP’s latest Treasury in Practice Guide, we delve into the different types of BEC scams and how you can make sure your staff doesn’t fall for them. We’ve compiled insights from security experts, law enforcement officials, bank representatives and corporate treasury and finance professionals. The new guide will give you the tools you need to recognize a BEC scam immediately—saving your organization a lot of money.

Simply put, BEC scams are everywhere, and they’re not going anywhere. But with good policies and training in place, treasury and finance professionals can avoid making a fatal mistake. That way, the next time you receive an urgent, secretive wire request from an executive who is out of the office—you’ll think twice.

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Decoding your Analysis Statements
August 22 - 23

Dive into the wealth of information contained in your bank account analysis statements. Discover the guidelines for account analysis statements, how electronic statements work, how AFP Service Codes could and should be assigned, and perform your very own crossbank comparisons.

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