AP Now Episode 46: Mary Schaeffer Discusses A Crazy New Fraud Innovations and How to Protect Against It

In this episode, Mary Schaeffer, AP Now founder, and podcast host discusses the latest twist on business email compromise fraud. It’s an unsettling case of things not always what they appear to be. She begins by noting that fraud protection related to electronic payments and wire transfers now takes up much more time during fraud presentations than in the past. This is thanks to all the new innovations used by crooks to get their hands on your money. 

Schaeffer then lays out the example of a call from the CFO requesting a rush wire. She tells the audience to take a minute to consider the scenario and then decide what they would do. She also suggests they give a reason why they took the course of action they did. She spends most of the rest of the time on this podcast explaining why the right answer is the right answer and the wrong answer is the wrong answer, citing two recently-reported frauds.

She closes by noting that “the new normal is be suspicious and verify everything.” She also suggests that companies are advised to ensure that all employees, from the top to the bottom of the chain are educated about new frauds and fraud protection.

Host: Mary Schaeffer (https://www.ap-now.com/)

Credit: Music: https://www.purple-planet.com