Episode 202: A Confirmation Phone Call Was Done and the City of Portland Still Lost $1.4 Million to a Fraudster – What Went Wrong?

The City of Portland made a confirmation phone call before a larger wire transfer.  They paid a fraudster anyway.  To find out what mistakes were made and why the confirmation phone call is just not enough….

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Check out my website www.debrarrichardson.com if you need help cleaning your vendor master file or implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments, regulatory fines or bad vendor data. 

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Links mentioned in the podcast:   

• Enroll in Training:  The BANK of AP:  Protect Vendor Data Like Fort Knox > An Internal Control System to Combat Business Email Compromise  https://attendee.gotowebinar.com/register/6633081396823597837
• Vendor Master File Tip of the Week:  Authentication: https://youtu.be/bjvFqF78lHg  
• Article:  Before Portland lost $1.4 million in cyber breach, city treasurer raised red flag: https://www.opb.org/article/2022/08/22/portland-oregon-lost-million-funds-cybersecurity-theft/ 
• Vendor Process Training Pass for weekly vendor process training, weekly Q&A sessions, and digital content
• Vendor Master File Clean-Up:  https://www.debrarrichardson.com/cleanup
• Free Vendor Process Risk Assessment > Schedule here:  https://calendly.com/debrarrichardson/vendor-process-risk-assessment
• YouTube Channel:  https://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiw 
• Prevent Fraudulent Payments.  Get Your Own Copy of the3 Step Vendor Setup and Maintenance Process eGuide.  (Includes Authentication Reference Template and Vendor Validation Reference List)
• More Podcasts/Blogs/Webinars www.debrarrichardson.com
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